Press release from Business Wire
Glancy Binkow & Goldberg LLP Announces An Expanded Class Period In The Class Action Lawsuit Against Zynga Inc.
Tuesday, September 11, 2012
Glancy Binkow & Goldberg LLP Announces An Expanded Class Period In The Class Action Lawsuit Against Zynga Inc.21:45 EDT Tuesday, September 11, 2012 LOS ANGELES (Business Wire) -- Glancy Binkow & Goldberg LLP announces that the Class Period has been expanded in the securities fraud class action lawsuit pending in the United States District Court for the Northern District of California against Zynga Inc. (“Zynga” or the “Company”) (NASDAQ:ZNGA). The lawsuit was filed on behalf of a class (the “Class”) comprising all purchasers of Zynga securities between December 15, 2011 and July 25, 2012, inclusive (the “Class Period”). Zynga provides social game services, and generates revenue primarily through advertising and the in-game sale of “virtual goods” to players. The Complaint alleges that the defendants issued false and/or misleading statements or failed to disclose material adverse facts about Zynga's business and financial prospects, including that: (i) despite a sustained decline in users of the Company's games and declines in average bookings per user, Zynga issued positive financial forecasts between February and April 2012 that were not justified in light of the Company's financial performance and trends; and (ii) the positive forecasts enabled senior executives and selected investors to sell nearly $600 million of Zynga shares at inflated prices in early April 2012 – approximately two months before a lock-up period previously agreed to by Zynga executives was scheduled to expire. If you are a member of the Class described above, you may move the Court no later than October 1, 2012 to serve as Lead Plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take action at this time; you may retain counsel of your choice or take no action and remain an absent Class member. To learn more about this action, or if you have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Glancy Binkow & Goldberg LLP, Los Angeles, CAMichael Goldberg310-201-9150 or email@example.com