Match Agrees To Settle Tinder Valuation Lawsuit For $441M

Match Group Inc (NASDAQ:MTCH) disclosed the settlement of valuation lawsuit Rad, et al. v. IAC/InterActiveCorp (NASDAQ:IAC), et al. and related arbitrations.
Match agreed to pay the plaintiffs $441 million, and the plaintiffs will dismiss all claims presently on trial and in arbitration related to the 2017 Tinder valuation.
The company said, “We intend to pay the settlement from cash on hand.”
Tinder co-founder Sean Rad and other early employees prosecuted IAC and Match in 2018 for fraudulently undervaluing their Tinder stock options one year prior by at least $2 billion.
The complainants also alleged various issues, including IAC/Match taking control of Tinder through management changes and firing Rad from his Tinder CEO seat in favor of Match’s Greg Blatt.
Under Blatt’s leadership, the appellants were accused of manufacturing, suppressing, and lying about Tinder’s performance during a private valuation process.
Price Action: MTCH shares traded higher by 2.77% at $133.59 in the market session on the last check Wednesday.

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