An investigation on behalf of investors of NASDAQ:ZNGA shares over possible securities laws violations by Zynga Inc was announced and NASDAQ:ZNGA investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/30/2012 -- An investigation on behalf of investors in Zynga Inc (NASDAQ:ZNGA) shares was announced over potential securities laws violations by certain officers and directors at Zynga Inc in connection with certain financial statements concerning its March 28, 2012 secondary offering.
Investors who purchased shares of Zynga Inc (NASDAQ:ZNGA), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Zynga Inc (NASDAQ:ZNGA) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements in the May 28, 2012 secondary offering about Zynga’s business, its prospects and its operations were potentially materially false and misleading at the time they were made.
Zynga Inc (NASDAQ:ZNGA) reported that its annual Revenue skyrocketed from $19.41million in 2008 to $1.14billion in 2011. However its Net Income of $90.59million in 2010 turned into a Net Loss of $404.32million in 2011.
Shares of Zynga Inc (NASDAQ:ZNGA) grew from $9.50 in December 2011 to as high as $14.69 per share in March 2, 2012.
Then on March 28, 2012, Zynga Inc (NASDAQ:ZNGA) did a secondary offering.
Since then NASDAQ:ZNGA shares declined significantly.
Then on July 25, 2012, Zynga Inc (NASDAQ:ZNGA) reported its second quarter 2012 financial Results Zynga Inc announced a net loss of $22.8 million for the second quarter of 2012. In addition, Zynga Inc announced that it is lowering its outlook for 2012.
Shares of Zynga Inc (NASDAQ:ZNGA) dropped from $5.078 per share on July 25, 2012, to $3.02 per share on July 26, 2012.
On July 27, 2012, NASDAQ:ZNGA shares closed at $3.09 per share, substantially below its current 52weekHigh of $15.91 per share.
Those who purchased shares of Zynga Inc (NASDAQ:ZNGA), have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com