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MURRAY FRANK LLP Files Lawsuit Against Zynga Inc

Monday, 27 Aug 2012 08:14pm EDT 

MURRAY FRANK LLP announced that it has filed a class action complaint in the United States District Court for the Northern District of California captioned Yan v. Zynga Inc. et al., 12 Civ. 4360. The lawsuit is filed on behalf of purchasers of securities of Zynga Inc. between December 16, 2011 and July 25, 2012, inclusive (the Class Period). The lawsuit alleges violations of the Securities Exchange Act of 1934 (the Exchange Act) that occurred when the Defendants issued materially false and misleading statements regarding the Company’s business and prospects. Specifically, it is alleged that during the Class Period, Defendants made false and misleading statements about or knew but failed to disclose that the Company’s optimistic financial forecasts were not justified in light of declining users of the Company’s games and declining average bookings per user; and as a result of Defendants’ false and misleading statements, Zynga’s stock traded at artificially inflated prices. 

Company Quote

-0.04 -1.32%
25 Jul 2014