Shareholder Rights Law Firm Johnson & Weaver, LLP announces that it is
investigating whether certain officers and directors of Zynga, Inc.
("Zynga") (Nasdaq stock symbol: ZNGA) engaged in fraudulent conduct or
breached their fiduciary duties to shareholders in violation of state
and federal securities laws.
Zynga describes itself as the world's leading provider of social game
services, providing on-line gaming principally on Facebook and mobile
On July 25, 2012, Zynga announced a net loss of $22.8 million for the
second quarter of 2012, and drastically lowered estimates for its
revenue for the full year. On this news, Zynga's common stock dropped
nearly 40%, to $3.10 per share.
In a secondary stock offering in April of this year, certain of Zynga's
officers, directors, and investors sold over $500 million worth of their
Johnson & Weaver's investigation focuses on whether certain officers and
directors of Zynga breached their fiduciary duties by failing to inform
investors of material adverse information, including declining sales and
revenues, while at the same time selling their own shares.
Investors who purchased shares of Zynga common stock at any time before
July 26, 2012, including those who purchased during the company's IPO in
December 2011, and who currently still own any shares may have legal
rights to compensation.
Johnson & Weaver, LLP invites Zynga shareholders who are concerned about
their legal rights and remedies, as well as others who may have
information about the above, to contact attorney David Elliot at (619)
230-0063 or email@example.com.
Johnson & Weaver, LLP is a nationally recognized shareholders' rights
law firm. The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit http://www.johnsonandweaver.com.
Johnson & Weaver, LLP