Tinder’s co-founder sued by IAC for data theft

Tinder’s co-founder sued by IAC for data theft

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Match Group Inc, an online dating company, along with its parent company IAC/InterActive Corp has filed a lawsuit against Sean Rad who is one of the founders of Tinder, a popular dating service of Match Group.

Filed in New York state court in Manhattan late on Tuesday, the lawsuit alleged Rad of copying files and other proprietary information of Match Group.

Previously, IAC had been sued by Rad and a group of ex-Tinder workers upon allegation that in an effort to avoid payment of billions of dollars to the startup team, IAC had undervalued the Tinder and now current lawsuit came just after six month of that.

The current lawsuit by Match against Rad has been claiming at least $250 million in damages. Mac and IAC have described the claim as a portion of amount Rad received against his share of equity compensation at the time of acquisition of Tinder which he was not entitled to be receiving for his unlawful activity.

Rad, for years, had violated the employment agreement by creating backups of internal emails, forwarding company emails to a personal email address and directly copying company’s highly sensitive files bearing non-public information related to the business plans and strategies of his employer, as alleged IAC and Match in their complaint.

As per employment contract, Rad was authorized to backup his email, said Orin Snyder, a Los Angeles based lawyer for Rad, who for the reason described the lawsuit as ridiculous and referred it as a distracting act of IAC and Match for revenge and the jury would see right through it.

Last year in August, IAC and Match were sued by RAD and others, claiming the companies knowingly undervalued the Tinder dating app in July last year to stop the assessment of the full value of its stock option.

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I cover technology, utilities and biotechnology for Markets Morning, and I help out occasionally with other industry sectors. I've written about investment and personal finance topics for more than 20 years from a lowly copywriter to editor-in-chief, so I've done a little bit of everything. For what it's worth, I have a BA from Duke University and an MBA from Rollins College. I'm married with one daughter, and that's worth more than everything else put together.

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