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(Reuters) -Match Group Inc mentioned on Wednesday it could pay Tinder founders $441 million to settle a case wherein the relationship app’s executives claimed the dad or mum firm lowballed the app’s worth to keep away from paying billions of {dollars}.
The lawsuit in New York Supreme Court docket had said that IAC/InterActiveCorp and its subsidiary, Match, intentionally prevented the plaintiffs, together with Tinder founders Sean Rad, Justin Mateen and Jonathan Badeen, from cashing in inventory choices they might train and promote to IAC.
The plaintiffs got inventory choices in Tinder as a part of their compensation in 2014, however as a result of Tinder is a non-public firm, they weren’t in a position to train their choices after which promote inventory on the open market.
As an alternative, they had been allowed to train their choices and promote solely to IAC and Match on particular dates, on which the inventory choices could be independently valued.
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