Law Offices of Howard G. Smith announces an investigation on behalf of Bumble Inc. (“Bumble” or the “Company”) (NASDAQ: BMBL) investors concerning the Company’s possible violations of federal securities laws.
On February 27, 2024, Bumble released its fourth quarter 2023 financial results, falling short of expectations. The Company stated that the recently-launched Premium Plus subscription tier would be revamped as part of a planned Bumble app relaunch, as it “did not have a clear enough market fit” at launch. Additionally, the Company lowered its guidance for 2024.
On this news, Bumble’s stock price fell $1.95, or 14.8%, to close at $11.23 per share on February 28, 2024, thereby injuring investors.
Then, on August 7, 2024, Bumble released its second quarter 2024 financial results, disclosing that the app relaunch was not going to plan and that the Company would need to “reset” its outlook to refocus on the “consumer ecosystem” and “rebalance Bumble subscription tiers,” including a pause in the revamp of the Premium Plus tier. The Company also cut its full year 2024 guidance for a second time.
On this news, Bumble’s stock price fell $2.35, or 29.2%, to close at $5.71 per share on August 8, 2024, thereby injuring investors further.
If you purchased Bumble securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
