Tinder founders sue parent IAC, saying it owes them billions

Job seekers and recruiters at the Tinder table gather at TechFair in Los Angeles, California, U.S. March 8, 2018. REUTERS/Monica Almeida

NEW YORK: A group of founders, executives and early employees of Tinder on Aug 14 sued IAC/InterActiveCorp, claiming the parent company deliberately undervalued the dating app to avoid paying them billions of dollars and deprived some employees of stock options.

The lawsuit filed in state Supreme Court in Manhattan stated that IAC and its subsidiary Match Group Inc deliberately prevented the plaintiffs from cashing in stock options they could exercise and sell to IAC. They are seeking damages of not less than US$2bil (RM8.19bil).