Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announce that the firms are investigating legal claims against the officers and Board of Directors of Zynga, Inc. (“Zynga” or “ZNGA”) (NASDAQ: ZNGA) related to potential securities violations between December 16, 2011 to July 25, 2012 (the “Class Period”).
“Recent revelations about alleged improper business practices and procedures regarding key aspects of Zynga’s business and other misleading financial statements have prompted the firms to investigate possible breaches of fiduciary duties and other violations of state law by Zynga’s officers and directors. Based on our investigation, we are prepared to pursue litigation to preserve the company and the value of Zynga stock for all shareholders,” said shareholder rights attorney Willie Briscoe.
If you are an affected investor and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at email@example.com, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
In a recently filed federal class action complaint, Zynga and certain of its officers and directors were charged with violating the Securities Exchange Act of 1934. Specifically, the complaint alleges that during the Class Period, the defendants misrepresented or failed to disclose: (a) the true extent of the current risk of Facebook policy changes on Zynga’s bookings prospects and overall financial condition; (b) Facebook’s changes to its platform and policies would negatively impact current and future prospects; (c) the acquisition of OMGPOP and “Draw Something” could not support the increased bookings and financial forecasts issued on April 26, 2012; and (d) Zynga lacked a reasonable basis for the bookings and EBITDA and financial projections issued during the Class Period. Further, on July 26, 2012, Zynga issued a press release announcing its financial results for the second quarter of 2012, and in response to the announcement, the shares of Zynga dropped by approximately 37%.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV