Tinder founders, execs file suit against IAC and Match Group

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NEW YORK (AP) — The founders of the dating app Tinder, along with current executives and some of its employees, have filed a lawsuit against IAC/InterActiveCorp and its Match Group subsidiary for allegedly manipulating financial information, hurting Tinder's valuation and unlawfully getting rid of stock options.

The lawsuit claims that there were written contracts between IAC and Match and Tinder employees, including founders Sean Rad, Justin Mateen and Jonathan Badeen. The contracts required Tinder be valued on specific dates in 2017, 2018, 2020 and 2021 and that the workers be allowed to exercise their stock options and sell them to IAC and Match.

The lawsuit alleges IAC and Match instead created false financial information, delayed new products and used other tactics to try to keep Tinder's valuation low and extinguished the stock options.