Pomerantz Haudek Grossman & Gross LLP Has Filed Class Action Against Zynga Inc

Pomerantz Haudek Grossman & Gross LLP announced that it has filed a class action lawsuit (1:12-cv-11279) against Zynga Inc. (Zynga or the Company) and certain of its officers. The class action (CV-12-4048) filed in United States District Court, Northern District of California, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired Zynga securities between February 15, 2012 and July 25, 2012, inclusive (the Class Period). This class action lawsuit seeks to recover damages caused by the Company's violations of the federal securities laws and to pursue remedies under § 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The Complaint alleges that throughout the Class Period, the Company made materially false and misleading statements and/or failed to disclose that: the Company was experiencing a rapid decline in the number of users for its existing web based games; the Company was experiencing substantial delays in launching new web based games; the Company was failing to take advantage of the changes on Facebook's web platform; the Company was unable to effectively monetize revenues from mobile devices through its web based games; and as a result of the above, the Company's financial statements were materially false and misleading at all relevant times.