Tinder founders sue parent companies Match and IAC for at least $2B
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Re: Tinder founders sue parent companies Match and IAC for at least $2B
#2> The suit alleges that IAC and Match Group manipulated financial data in order to create 'a fake lowball valuation' (to quote the plaintiffs’ press release), then stripped Rad, Mateen, Badeen and others of their stock options
Wait, they didn't exercise their options into the sale? Did the founders hire a team of squirrels as their bankers? This is M&A 101 when switching to majority control.
EDIT: Ah, Tinder was launched as an internal project at Match. Taking options in a majority-owned entity is...odd. There is no proper way to value a majority-owned entity without discounting for the majority ownership. Issuing options for the parent would have been a better offer and better ask.
Re: Tinder founders sue parent companies Match and IAC for at least $2B
#3That is a brutal response from Match and IAC. Their statement also mentions that two separate banks were part of the valuation. I'd be curious what their proof is. A couple fun phrases from the statement:
> his merry band of plaintiffs
> but sour grapes alone do not a lawsuit make
Re: Tinder founders sue parent companies Match and IAC for at least $2B
#4That is a brutal response from Match and IAC. Their statement also mentions that two separate banks were part of the valuation. I'd be curious what their proof is. A couple fun phrases from the statement: > his merry band of plaintiffs > but sour grapes alone do not a lawsuit make
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Re: Tinder founders sue parent companies Match and IAC for at least $2B
#5> The suit alleges that IAC and Match Group manipulated financial data in order to create 'a fake lowball valuation' (to quote the plaintiffs’ press release), then stripped Rad, Mateen, Badeen and others of their stock options Wait, they didn't exercise their options into the sale? Did the founders hire a team of squirrels as their bankers? This is M&A 101 when switching to majority control. EDIT: Ah, Tinder was laun…
IIRC they were owned by Match from the start.
Re: Tinder founders sue parent companies Match and IAC for at least $2B
#6[deleted]
Re: Tinder founders sue parent companies Match and IAC for at least $2B
#7Random semi-tangential question: It seems that when companies/PR people/lawyers respond to lawsuits, they always use some version of this EXACT phrase:
"The allegations in the complaint are meritless, and ____ intends to vigorously defend against them."
Responses almost always use the word "meritless" (or "baseless") and almost always describe their forthcoming response to be "vigorous".
Is there a legal reason why these responses always use the same language? Or is this like an inside joke in legal circles?
Re: Tinder founders sue parent companies Match and IAC for at least $2B
#8Random semi-tangential question: It seems that when companies/PR people/lawyers respond to lawsuits, they always use some version of this EXACT phrase: "The allegations in the complaint are meritless, and ____ intends to vigorously defend against them." Responses almost always use the word "meritless" (or "baseless") and almost always describe their forthcoming response to be "vigorous". Is there a legal reason why t…
It's just a cliche, see also "we take your security/privacy very seriously" when disclosing issues
Re: Tinder founders sue parent companies Match and IAC for at least $2B
#9That is a brutal response from Match and IAC. Their statement also mentions that two separate banks were part of the valuation. I'd be curious what their proof is. A couple fun phrases from the statement: > his merry band of plaintiffs > but sour grapes alone do not a lawsuit make
How do judges usually react to colorful language like that?
Re: Tinder founders sue parent companies Match and IAC for at least $2B
#10[deleted]