Tinder Founders’ Multibillion-Dollar Lawsuit Against IAC / Match Will Go Forward To Trial
NEW YORK--(BUSINESS WIRE)--Oct 29, 2019--
A New York appeals court today unanimously ruled that the multibillion-dollar lawsuit filed by Tinder founders and early employees against Defendants IAC/InterActiveCorp (NASDAQ: IAC) and Match Group (NASDAQ: MTCH) will continue to proceed to trial. The lawsuit details how IAC and Match Group unlawfully cheated the Tinder Plaintiffs of billions of dollars by improperly undervaluing and converting their stock options in Tinder, which is today worth more than $20 billion. The appeals court unanimously upheld the trial court’s decision denying Defendants’ motion to dismiss on statute-of-limitations and other grounds. A jury trial is scheduled for 2020.
Statement of Orin Snyder, Attorney for the Tinder Plaintiffs
“IAC and Match cheated our clients and engaged in a brazen cover-up. We are pleased that the appellate court unanimously upheld the trial court’s decision and rejected IAC’s latest maneuver to avoid a trial. The evidence of IAC’s lawless behavior is mounting. We look forward to presenting it to the jury.”
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SOURCE: Gibson, Dunn & Crutcher LLP
Copyright Business Wire 2019.
PUB: 10/29/2019 05:28 PM/DISC: 10/29/2019 05:28 PM