Author: Shannon Liao
Tinder’s co-founders and several current senior executives are suing the platform’s parent company for $2 billion in damages, according to a complaint filed today. The lawsuit claims that Tinder’s owner, IAC and Match Group, robbed the employees by lowering Tinder’s valuation and taking away their stock options.
The 10 plaintiffs include co-founders Sean Rad, Justin Mateen, and Jonathan Badeen, three current executives, as well as former executives and directors.
According to the suit, there were written contracts between IAC and the employees for Tinder to be valued on dates in 2017, 2018, 2020, and 2021 when they would be given the chance to exercise stock options. But instead, IAC merged Tinder into Match Group in 2017, and by doing...
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Tinder’s co-founders and several current senior executives are suing the platform’s parent company for $2 billion in damages, according to a complaint filed today. The lawsuit claims that Tinder’s owner, IAC and Match Group, robbed the employees by lowering Tinder’s valuation and taking away their stock options.
The 10 plaintiffs include co-founders Sean Rad, Justin Mateen, and Jonathan Badeen, three current executives, as well as former executives and directors.
According to the suit, there were written contracts between IAC and the employees for Tinder to be valued on dates in 2017, 2018, 2020, and 2021 when they would be given the chance to exercise stock options. But instead, IAC merged Tinder into Match Group in 2017, and by doing...
Continue reading…
Continue reading...