Match will pay Tinder founders $441 million to settle financial fraud lawsuit (Updated)

The founders of Tinder just won a partial victory at A lawsuit against Match Group on alleged financial fraud. her match agreed to settle the case by paying $441 million from its cash reserves. In return, Tinder co-creators will reject claims from the lawsuit and associated arbitration.

The court battle began in 2018, when prosecutors accused Tinder Match’s parent organizations and IAC of manipulating financial data (including a secret merger with Match) to artificially lower Tinder’s valuation and illegally deny stock options to workers. Prosecutors also alleged that Tinder’s interim president, Greg Platt, sexually harassed VP of Marketing and co-founder Rosette Bambakian in 2016. Tinder fired employees in response to their lawsuit, and Pambakian separately sued Tinder over the assault allegations.

We have asked Match for comment. Tinder said it could not comment other than a joint statement in the SEC filing in which the two companies said they were “delighted” to have settled the case.

This is not the decisive blow that the founders of Tinder wanted. The company originally claimed “billions of dollars” (about $2 billion, to be exact) in damages for the alleged tampering and IAC—it got a fraction of that compensation three years later. While the match is still in trouble, it doesn’t take long-term damage as a result.

Update 12/1 1:20 PM Eastern Time: Match Group told Engadget that the settlement also covers Bambakian’s allegations of sexual assault.

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