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 https://www.sec.gov/ix?doc=/Archives/edgar/data/891103/000089110321000093/mtch-20211201.htm it intends to pay the settlement from cash on hand.