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FTC sues Tinder owner Match Group for placing fake ads on their site

Sept 25 (Reuters) - The U.S. Federal Trade Commission on Wednesday sued Match Group Inc, the online dating service company that owns Tinder, OKCupid and other dating sites, alleging that it used fake love interest advertisements to trick consumers into buying paid subscriptions.

Shares of Match Group fell nearly 5%.

"We believe that Match.com conned people into paying for subscriptions via messages the company knew were from scammers," said Andrew Smith, director of the FTC's Bureau of Consumer Protection.

(Reporting by Neha Malara in Bengaluru; Editing by Arun Koyyur)