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Faruqi & Faruqi, LLP Encourages Investors Who Suffered Substantial Losses of $100,000 Investing In Zynga, Inc. To Contact the Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities violations at Zynga, Inc. (“Zynga” or the “Company”) (NasdaqGS: ZNGA).
The investigation focuses on whether Zynga misrepresented or failed to disclose material adverse facts about the Company’s business and financial condition. The investigation is also considering the firm’s insider sales. Zynga’s executive officers sold 43 million shares of personally held stock in April 2012, at a price of $12 per share for proceeds totaling $516 million, as described in the Company’s May 23, 2012 S-1 Registration Statement.
On July 25, 2012, Zynga published financial results for the second quarter of 2012, reporting a net loss of $22.8 million, earnings which failed to meet estimates and a drastically reduced outlook for the remainder of fiscal year 2012. As a result of this news, Zynga shares collapsed by 38% on July 26, 2012, closing at $3.15.
If you purchased Zynga securities in connection with the Company’s December 16, 2011 initial public offering and would like to discuss your legal rights, contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Zynga’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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