Zynga under investigation following share price crash
According to reports, multiple law firms are investigating the social gaming giant on suspicions that the firm failed to disclose "materially adverse facts" about the business in the lead up to its share price dive.
It was recently reported that a number of Zynga insiders sold large amounts of stock just months before their value bombed, sparking suspicions that they withheld insider knowledge about the state of the business.
Levi & Korsinsky - one of the same firms also currently investigating similar claims against THQ over uDraw - is investigating "concerns that Zynga misrepresented and/or failed to disclose materially adverse facts about its business and financial condition".
The Facebook games group said in a investors call this week that it faced "new short-term challenges" that impacted the business for the quarter.
It also lowered its outlook for the rest of 2012, citing "delays in launching new games, a faster decline in existing web games due in part to a more challenging environment on the Facebook web platform, and reduced expectations for Draw Something."
Posted:
Source: http://www.computerandvideogames.com/360528/zynga-under-investigation-following-share-price-crash/
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CearnsyPosted:
MinecartM60GFX- Its bad to plumit 40%
Yeah 22.8 Million is a lot
Yeah, definalty.
Would hate to be down that much money man never mind have it
EmazedPosted:
MazurEmazing-LightsMazurScantyEmazing-LightsScantyMazurScanty
Like, real money? For FarmVille? Wow.
yeah they even have cards for it at walgreens and stores like that.
Are you serious? For a stupid facebook game?
I've never seen any.
Yeah I always see them at 7Eleven and Target.
I have never seen any of these FarmVille cards. Xbox ones, but not FarmVille.
they've just recently come up.
I always see them I think I remember buying one when I was into the game. :P
i was into Farmville for a while but i never took it that serious lololol
It was at the time where I liked the game so much that I just had to go out and buy the card. :P
MazurPosted:
Emazing-LightsMazurScantyEmazing-LightsScantyMazurScanty
Like, real money? For FarmVille? Wow.
yeah they even have cards for it at walgreens and stores like that.
Are you serious? For a stupid facebook game?
I've never seen any.
Yeah I always see them at 7Eleven and Target.
I have never seen any of these FarmVille cards. Xbox ones, but not FarmVille.
they've just recently come up.
I always see them I think I remember buying one when I was into the game. :P
i was into Farmville for a while but i never took it that serious lololol
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