NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky is investigating potential claims on behalf of purchasers of Zynga, Inc. (“Zynga” or the “Company”) (Nasdaq: ZNGA) securities concerning possible violations of federal securities laws and breaches of fiduciary duty.
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On July 25, 2012, Zynga released its financial results for the second quarter of 2012, reporting a net loss of $22.8 million and substantially lowering its outlook for the rest of the year. Upon this news, shares of Zynga fell 40 percent. Zynga shares have fallen 70% since its December 2011 Initial Public Offering.
The investigation stems from concerns that Zynga misrepresented and/or failed to disclose materially adverse facts about its business and financial condition. Furthermore, certain Zynga executive officers sold a combined 43 million shares of Company stock during the second quarter of 2012, shortly before Zynga reported poor financial results.
If you own Zynga stock and wish to obtain additional information about the investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/zynga-znga.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.