#onlinedating | Investors In Pa. Software Co. Sue Over $500M EHarmony Deal | #bumble | #tinder | #pof

Law360 (May 1, 2020, 3:49 PM EDT) — Shareholders of online streaming and dating platform The Meet Group Inc. filed a proposed class action in Pennsylvania federal court Thursday trying to stop a $500 million merger with the parent company of eHarmony, claiming Meet Group’s board of directors had undervalued the company.

The complaint said The Meet Group’s proposed acquisition by NuCom Group would benefit the individual board members to the detriment of shareholders, who would get $6.30 per share, and claimed that the board had made misleading statements and withheld information in a proxy statement intended to sway investors to approve the transaction.

“The compensation afforded under the…

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