Internet and technology firm Match Group Inc. has settled a lawsuit filed by officials of Tinder over the supposed undervaluation of the dating app, WSJ reported.

  • Match said it has consented to a deal to pay Tinder officials $441 million after executives including Co-Founders Sean Rad, Justin Mateen, and Jonathan Badeen claimed that the tech firm cheated them out of billions of dollars.
  • The executives agreed to drop all their claims against Match, which are currently on trial and in arbitration, in return for the payment Match will be making using its cash on hand.
  • The plaintiffs in the suit said Match and IAC “conducted a disinformation campaign” using what they claimed was “false information” to value Tinder at a supposedly lower price of $3 billion.

The plaintiffs earlier said part of the compensation from Match and IAC came in the form of Tinder stock options. MTCH is up 1.78%.