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Bumble sues Tinder parent for trade-secret theft, weeks after Tinder's suit

Tinder-parent Match Group Inc. MTCH, +2.97% is the topic of a lawsuit filed through Bumble Trading Inc., which alleges that Match stole trade secrets while in acquisition talks with Bumble. The suit contends that Match requested Bumble for confidential trade plans in order that it will build up its offer price, ahead of "abruptly, and without warning" finishing negotiations when it filed its own trade-secret and highbrow belongings lawsuit in opposition to Bumble earlier this month. Bumble known as that lawsuit "baseless." Match Group known as Bumble's suit "a petulant and meritless response to our patent and trade secret claims" in a observation supplied to MarketWatch. "We obviously think their lawsuit has no substance and look forward to proving that in court," the company added. Match shares climbed three% in Thursday trading and are up 173% during the last 12 months, compared with an 11% acquire for the S&P 500.