Top 4 Undervalued Stocks for 2024

Smart investors are always trying to get the best possible deal on whatever security or asset they are buying. The better the deal, the higher the chance of generating a substantial ROI. Within this report you'll find 4 stocks selling below intrinsic value with growth potential.

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Popular LGBT Dating App Grindr Faces Legal Action Over Disclosing HIV Status Of Users: 'Compensate Those Whose Data Has Been Compromised'

Ananya Gairola
April 22, 2024

The leading social networking and dating app for the LGBTQ+ community, Grindr (NYSE:GRND) is facing a lawsuit in the U.K. for allegedly sharing users’ private information, including their HIV status, with third parties without consent.

What Happened: The lawsuit, filed by law firm Austen Hays, is being brought to the High Court in London and represents hundreds of affected users, reported Reuters, citing the law firm on Monday.

The firm claims that the sensitive data of thousands of Grindr users in the U.K., including their HIV status and the date of their latest HIV test, was shared with third parties for commercial purposes.

Grindr’s initial response was to challenge the claim, stating that it was based on a “mischaracterisation of practices from more than four years ago.”

However, the company later stated that it has “never shared user-reported health information for ‘commercial purposes’ and has never monetized such information.”

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The lawsuit, which has already garnered 670 claimants, alleges that the breaches occurred between 2018 and 2020. Austen Hays’ managing director, Chaya Hanoomanjee, emphasized the importance of Grindr compensating those affected and ensuring the safety of all its users.

“Grindr owes it to the LGBTQ+ community it serves to compensate those whose data has been compromised and have suffered distress as a result,” said Hanoomanjee. They must “ensure all its users are safe while using the app, wherever they are, without fear that their data might be shared with third parties.”

Why It Matters: This is not the first time Grindr has faced controversy over its data practices. In 2022, it was a report suggested that user location data for Grindr was commercially available without users’ knowledge.

As per the report, while the data did not include personal information, it provided clues about users’ locations and activities based on patterns, habits, and routines.

Despite these controversies, Grindr has continued to evolve its platform. Last year, the company announced that it would be using artificial intelligence to enhance users’ experience on the app.

Check out more of Benzinga’s Consumer Tech coverage by following this link.

Read Next: Mark Zuckerberg Didn’t Sell Facebook For $1B But Would He Have Sold For $5T? This Was Meta CEO’s Thought Process

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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