The investigation centers on a repurchase initiative launched in March 2025, originally intended to run through March 2027. Despite internal warnings that the buybacks could push Zage’s ownership beyond 50%, a special committee authorized the continuation of the program. By September 2025, the company’s share count dropped to 187,032,103, effectively elevating Zage’s stake to 50.11%.
In section Releases
Grindr Faces Shareholder Probe Over Chairman’s Voting Control
Wall Street firm Moore Law PLLC is investigating whether Grindr’s board breached fiduciary duties by allowing a $500 million stock buyback program to consolidate majority voting power in Chairman G. Raymond Zage III without a corresponding control premium paid to other investors.
Legal counsel Fletcher Moore suggests these actions may have disadvantaged minority shareholders. The firm is now soliciting contact from investors to explore potential litigation, including claims for monetary damages and demands for corporate governance reforms. The scrutiny arrives as Grindr stock struggles, with shares declining approximately 25% over the past year from $20.00 to $15.38.
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