Match Group to pay Tinder founders $441 million to settle lawsuit

Match Group to pay Tinder founders $441 million to settle lawsuit

Match Group to pay Tinder founders $441 million to settle lawsuit

Information about Match Group to pay Tinder founders $441 million to settle lawsuit

Kevin David Scam or Legit


(Reuters) -Match Group Inc said on Wednesday it would pay Tinder founders $441 million to settle a case in which the dating app’s executives claimed the parent company lowballed the app’s value to avoid paying billions of dollars.
The lawsuit in New York Supreme Court had stated that IAC/InterActiveCorp and its subsidiary, Match, deliberately prevented the plaintiffs, including Tinder founders Sean Rad, Justin Mateen and Jonathan Badeen, from cashing in stock options they could exercise and sell to IAC.
The plaintiffs were given stock options in Tinder as part of their compensation in 2014, but because Tinder is a private company, they were not able to exercise their options and then sell stock on the open market.
Instead, they were allowed to exercise their options and sell only to IAC and Match on specific dates, on which the stock options would be independently valued.

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