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Match Group to pay over $400 million to settle Tinder valuation case

FILE PHOTO: The dating app Tinder is shown on an Apple iPhone in this photo illustration taken February 10, 2016. REUTERS/Mike Blake/Illustration/File Photo

(Reuters) – Match Group Inc (NASDAQ:MTCH) said on Wednesday it would pay Tinder founders $441 million to settle a case in which the dating app’s executives claimed the company undervalued it to avoid paying billions of dollars.

The lawsuit had stated that IAC/InterActiveCorp (NASDAQ:IAC) and its subsidiary, Match, deliberately prevented the plaintiffs from cashing in stock options they could exercise and sell to IAC.

Match said it intends to pay the settlement from cash on hand.


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