UPDATE 1-Tinder founders sue parent IAC, saying it owes them billions [Reuters (UK)]
IAC Inc. (IAC)
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Source: Reuters
Tinder founders sue parent IAC, saying it owes them billions | Reuters 3 Min Read NEW YORK (Reuters) - A group of founders, executives and early employees of Tinder on Tuesday sued IAC/InterActiveCorp ( IAC.O ), claiming the parent company deliberately undervalued the dating app to avoid paying them billions of dollars and deprived some employees of stock options. The lawsuit filed in state Supreme Court in Manhattan stated that IAC and its subsidiary Match Group Inc ( MTCH.O ) deliberately prevented the plaintiffs from cashing in stock options they could exercise and sell to IAC. They are seeking damages of not less than $2 billion. “The defendants made contractual promises to recruit and retain the men and women who built Tinder,” Orin Snyder, a lawyer for the plaintiffs, said in a statement. “The evidence is overwhelming that when it came time to pay the Tinder employees what they rightfully earned, the defendants lied, bullied, and violated their contractual duties, stealing b
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IAC
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- 2/13/24 - Beat
IAC
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- 4/9/24 - Form PRE
- 4/2/24 - Form 4
- 4/2/24 - Form 4
- IAC's page on the SEC website