Bumble Execs hit with investor lawsuit over lackluster bid

By Katryna Perera (May 31, 2022, 4:29 p.m. EDT) – The CEO and several board directors of popular dating app Bumble have been the subject of a derivative shareholder lawsuit in New York federal court. York, alleging it made misleading statements in connection with a secondary public offering, which caused Bumble shares to plummet, ultimately falling more than 50% from the offering price.

The William B. Federman Irrevocable Trust filed a lawsuit Friday against Bumble CEO Whitney Wolfe Herd and several directors for breaches of fiduciary duty and violations of federal securities laws.

According to the complaint, Bumble is controlled by Herd and investment advisory firm The Blackstone Group…

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