Match Group, IAC Face Suit Over Tinder Valuation

Three of Tinder's founders and a handful of current executives say the popular dating app's parent companies cheated them out of as much as $2 billion by manipulating financial information to undermine its valuation, according to a lawsuit filed Tuesday. The co-founders and executives claim that Match Group Inc. MTCH -0.21% and IAC/InterActiveCorp . IAC 0.18% hid projections of Tinder's rapid growth in order to reduce payments to the holders of stock options, which were based on the company's valuation. The suit, filed by 10 plaintiffs in New York Supreme Court, also says that Greg Blatt, a longtime executive of IAC who served as interim chief executive of Tinder, groped and sexually harassed Tinder's vice president of marketing and communications, Rosette Pambakian, during the Los Angeles-based company's 2016 holiday party. Mr. Blatt didn't immediately respond to a request for comment.