NEW YORK, July 21, 2026 (GLOBE NEWSWIRE) — Moore Law, PLLC, a shareholder litigation law firm located on Wall Street, is investigating:
The investigation is related to a share repurchase program that may have handed majority voting control to Chairman G. Raymond Zage III without requiring him to pay a control premium. Public filings provide a credible basis that Grindr’s board may have breached its fiduciary duties by continuing a $500 million stock buyback program after learning it could push Zage’s ownership above 50%. Grindr launched a program in March 2025 authorizing up to $500 million in stock repurchases through March 2027. The board recognized from the outset that continued buybacks could increase Zage’s ownership above 50% and instructed management to alert directors if that became likely. By August 2025, management warned that the threshold could be crossed, prompting the board to create a special committee to evaluate whether the repurchases should continue.
The special committee ultimately authorized continued buybacks even if they pushed Zage above the majority ownership threshold. On Sept. 19, 2025, Grindr completed repurchases that reduced its outstanding shares to 187,032,103, increasing Zage’s beneficial ownership to about 50.11%. These repurchases increasing Zage’s beneficial ownership to about 50.11% may be detrimental or adverse to interests of other stockholders. Over the last 12 months, Grindr stock is down approximately 25% from approximately $20.00 to $15.38.
If you own Grindr Inc. (NYSE: GRND) securities, please contact Fletcher Moore at [email protected].
You may be able to seek monetary damages, corporate governance reforms, reimbursement to the company, and a court approved incentive award at no cost to you whatsoever. All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
MOORE LAW PLLC
30 Wall Street, 8th Floor
New York, NY 10005
[email protected]
www.fmoorelaw.com
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