The information contained on this web page is only a summary of information presented in more detail in the Notice of Pendency and Proposed Settlement of Class Action (the “Notice”), which you can access by clicking here. Because this website is just a summary, you should review the Notice for additional details.
Notice of Pendency of Class Action: Please be advised that your rights will be affected by the above-captioned stockholder class action (the “Action”) pending in the Court of Chancery of the State of Delaware (the “Court”) if you were a record or beneficial holder of Match Group, Inc. (“Match” or the “Company”) Class A common stock (or any interest therein) at any time during the time period from December 19, 2019 to and including June 30, 2020 (the “Class”).
Notice of Settlement: Plaintiff Hallandale Beach Police Officers’ and Firefighters’ Personnel Retirement Trust (“Plaintiff”), on behalf of itself and on behalf of the Class (defined below), has executed a Stipulation of Settlement (the “Stipulation”) with (i) Defendants IAC Holdings, Inc. (now known as IAC Inc.) (“IAC”), Joey Levin (“Levin”), Glenn Schiffman (“Schiffman”), Mark Stein (“Stein”), and Gregg Winiarski (“Winiarski” and, collectively the “IAC Defendants”), Thomas J. McInerney, and Alan Spoon, (together with the IAC Defendants, the “Defendants”); (ii) Former Nominal Defendant Match Group, Inc. (“Match”); and (iii) Barry Diller (“Diller”), Sharmistha Dubey (“Dubey”), Amanda Ginsberg (“Ginsberg”), Ann McDaniel (“McDaniel”), and Pamela Seymon (“Seymon”) (collectively, the “Former Defendants” and together with Plaintiff, Defendants, and Match, the “Parties”).
This action arises out of the separation (the “Separation”) of IAC and Match, which was agreed upon on December 18, 2019. Plaintiff asserted class claims on behalf of itself and a class of former Match stockholders and derivative claims on behalf of Match in a complaint that alleged (i) individual, class, and derivative claims that IAC and Diller breached their fiduciary duties to the minority stockholders of Match in connection with the Separation; and (ii) individual, class, and derivative claims that Match directors McDaniel, McInerney, Seymon, Dubey, Ginsberg, Levin, Schiffman, Spoon, Stein, and Winiarski breached their fiduciary duties to the minority stockholders of Match also in connection with the Separation. Some of these claims, including the derivative claims, and Defendants McDaniel, Seymon, Dubey, Ginsberg, and Diller, were subsequently dismissed.
The Settlement resolves all of the remaining actual and potential claims against Defendants arising from or relating to the Separation. In consideration of the Settlement, a total of $30 million in cash will be deposited into the Escrow Account (defined in the Notice), which will be distributed to the Settlement Payment Recipients (defined in the Notice) directly, according to the Plan of Allocation (defined in the Notice). The Reasons for the Settlement are set forth in Section VIII of the Notice.
If you are a member of the Class, you are subject to the Settlement. The Class preliminarily certified by the Court consists of:
All record and beneficial holders of Match common stock, together with their heirs, successors and assigns, who purchased, acquired, or held such securities at any time from December 19, 2019, the date Match and IAC entered into the Transaction Agreement, through and including June 30, 2020, the date that the Separation was completed.
Excluded from the Class are (i) Defendants; (ii) Former Defendants; (iii) the current and Class Period officers and directors of Match; (iv) members of the immediate family of any Defendants, Former Defendants, and the current and Class Period officers and directors of Match; and (v) any entity in which any of them has a controlling interest, and the heirs, successors, or assignees of any such excluded party (the “Excluded Persons”). Excluded Persons also include any trusts, estates, entities, or accounts that held Match shares for the benefit of any of the foregoing.
Please read the Notice carefully and in its entirety. The Notice explains how Class Members will be affected by the Settlement. The following table provides a brief summary of the rights you have as a Class Member and the relevant deadlines, which are described in more detail in the Notice.
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RECEIVE A PAYMENT FROM THE SETTLEMENT. CLASS MEMBERS DO NOT NEED TO SUBMIT A CLAIM FORM. |
If you are a member of the Class (defined on Page 5 of the Notice), you may be eligible to receive a pro rata distribution from the Settlement proceeds. Eligible Beneficial Holders (defined on Page 5 of the Notice) do not need to submit a claim form in order to receive a distribution from the Settlement, if approved by the Court. Your distribution from the Settlement will be paid to you directly. See Pages 8-9 of the Notice for further discussion. |
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OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN SEPTEMBER 3, 2025. |
If you are a member of the Class and would like to object to the proposed Settlement, the proposed Plan of Allocation, or Class Counsel’s request for a Fee and Expense Award, you may write to the Court and explain the reasons for your objection. |
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ATTEND A HEARING ON SEPTEMBER 17, 2025, AT 9:15 A.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN SEPTEMBER 3, 2025. |
Filing a written objection and notice of intention to appear that is received by September 3, 2025 allows you to speak in Court, at the discretion of the Court, about your objection. |
If you have questions, you may call the Match Group Inc. Stockholder Settlement Help Line at 866-778-9624 or email info@MatchGroupStockholderLitigation.com.