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Overview

• There are two major lawsuits currently facing Bumble: The lawsuit claiming it broke California Unruh Act by discriminating against straight (heterosexual) women and the lawsuit claiming it misled investors during its 2024 product relaunch strategy: 1) Class action suit claiming Bumble discriminates against straight women (Violation of California Unruh Civil Rights Act (the "Unruh Act")) | 2) Lawsuit related to the 2024 financial results </aside>

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Investor Takeaway

• The current lawsuits are less material compared to those settled in 2025. I (Aron) don’t expect a combined settlement of more than $30 million. Similarly, commentaries from the management also signals the lawsuits may be immaterial. </aside>

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Prediction

• Aron: Based on past precedents and severity of the case, the class action suit claiming Bumble discriminates against straight women may lead to a settlement of less than $10 million.
• Aron: Based on past precedent, the lawsuit claiming Bumble misled investors in its 2024 relaunch strategy may lead to a settlement of less than $20 million.
• Aron: NOYB may lead to immaterial fines. </aside>

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Positive arguments

• Bumble already launched “opening moves” which weakens the claim that it discriminates against straight women: Alfred Rava, who is leading the lawsuit is seeking a court order that would force Bumble to allow men to initiate conversations with women directly, not just through “opening moves”, as well as $4,000 for every straight woman in California.
• The Tinder age discrimination lawsuit which can be compared to the lawsuit claiming that Bumble discriminates against straight women was settled for only $17 million: The Tinder age discrimination case which also invoked Unruh Act was settled for $17.3 million and it was brought by 230,000 affected California subscribers. Attorneys’ fees and costs were also covered (over $1.2 million in that case): https://www.agediscrimination.info/news/2019/1/29/tinder-settles-age-discrimination-claim-lodged-by-over-30s-for-173m
• The lawsuit which claimed Bumble discriminates against men was much stronger than the one claiming it discriminates against men and was settled for less than $60 million: Bumble settled the 20,000 legal claims for $66 million including legal costs. It also made provision of $0.4 million for future litigations cost as of September 2025, signaling it doesn’t expect the remaining lawsuits to lead to material loss.
• The 2021 Secondary Public Stock Offering lawsuit was settled for only $18 million and is similar to the current lawsuit which claims Bumble misled investors in its 2024 relaunch strategy: 2) Lawsuit related to the 2024 financial results
• Commentaries from the management also signals the pending lawsuits may be immaterial: September 2025 Bumble’s filing on the Unruh lawsuits </aside>

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Negative arguments

• The lawsuit on discrimination against women could lead to product changes such as end of “women first messaging” feature, which could lead to customer churn: Such lawsuits are responsible for “opening moves” launch </aside>

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Research on current Bumble legal disputes (ranked from the most severe to the least)

• 1) Class action suit claiming Bumble discriminates against straight women (Violation of California Unruh Civil Rights Act (the "Unruh Act"))
  • About the lawsuit
    • Alfred Rava, who is leading the lawsuit is seeking a court order that would force Bumble to allow men to initiate conversations with women directly, not just through “opening moves”, as well as $4,000 for every straight woman in California.
  • Similar lawsuits and their outcomes
    • Bumble settled the 20,000 legal claims for $66 million including legal costs. It also made provision of $0.4 million for future litigations cost as of September 2025, signaling it doesn’t expect the remaining lawsuits to lead to material loss.
      • September 2025 Bumble’s filing on the Unruh lawsuits
    • The Tinder age discrimination case which also invoked Unruh Act was settled for $17.3 million and it was brought by 230,000 affected California subscribers. Attorneys’ fees and costs were also covered (over $1.2 million in that case): https://www.agediscrimination.info/news/2019/1/29/tinder-settles-age-discrimination-claim-lodged-by-over-30s-for-173m
  • Such lawsuits are responsible for “opening moves” launch
• 2) Lawsuit related to the 2024 financial results
• 3) NOYB complain in the Austrian data protection authority that Bumble’s AI Icebreakers are breaking General Data Protection Regulation GPDR </aside>

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