SOURCE: Levi & Korsinsky, LLP
NEW YORK, NY--(Marketwire - Aug 2, 2012) - Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Zynga, Inc. ("Zynga" or the "Company") (NASDAQ: ZNGA) stock between December 16, 2011 and July 25, 2012.
For more information, click here: http://zlk.9nl.com/zynga-znga. There is no cost or obligation to you.
The complaint alleges that the defendants made materially false and misleading statements regarding the Company's business and prospects, including a false and misleading Registration Statement and Prospectus in connection with Zynga's secondary offering. Furthermore, it is alleged that the secondary stock offering enabled Zynga insiders to sell more than 43 million shares.
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.
If you suffered a loss in Zynga you have until October 1, 2012 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (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. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.