SAN FRANCISCO--(BUSINESS WIRE)--Attorney Advertising – Schubert Jonckheer & Kolbe LLP is investigating potential claims on behalf of purchasers of the securities of Zynga, Inc. ("Zynga" or the "Company") (Nasdaq: ZNGA), concerning potential violations of federal securities laws and breaches of fiduciary duty by certain insiders, including Zynga’s CEO, Mark Pincus.
On July 26, 2012, shares of Zynga plummeted nearly 40% after announcing its financial results for the second quarter of 2012, reporting a net loss of $22.8 million and lower than expected earnings estimates, and drastically lowering its outlook for the rest of the year. Zynga’s share price has fallen more than 70% since its December 2011 Initial Public Offering.
This loss occurred after Zynga’s insiders sold 43 million shares of stock in April at $12 per share, for proceeds of over $500 million.
Schubert Jonckheer & Kolbe’s investigation focuses on whether these insiders were privy to material adverse facts about Zynga’s business and financial condition at the time they sold their shares. If you are aware of any facts relating to this investigation, or purchased shares of Zynga, you can assist this investigation by contacting either Miranda Kolbe or Willem Jonckheer of Schubert Jonckheer & Kolbe LLP at 415-788-4220 or via email mkolbe@schubertlawfirm.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
Schubert Jonckheer & Kolbe LLP is a corporate litigation boutique with extensive experience in prosecuting securities litigation.