Zynga managers fingered in insider trading lawsuit

A class action lawsuit has been filed on behalf of investors over alleged insider dealing by the senior management team at Zynga. Last week, lawyers at Newman Ferrara issued a call for investors who felt they'd been stiffed by Zynga. They now appear to have enough aggrieved parties. The case, filed in the US District Court …

[Idgarad]

Zynga

As my tweet went: As long as Dan Porter has a job with #Zynga after the Shay Pierce statement, you get nothing from me Zynga.

Does this come as a surprise to anyone? They were dirt bags then, and dirt-bags now.

[LarsG]

Is the fool

Is the fool the man that thought he could get away with it?

Or

The man who bought the shares?

[Combat Wombat]

I am...

....Jack's complete lack of surprise.

[asdf]

a fool and his money

Look at the name, look at the near non existent business model. More money than brains describes the majority of the investing public.

[asdf]

Re: a fool and his money

#1 rule of investing don't invest in a company whose name sounds like Sheldon's (of Big Bang Theory fame) catch phrase.

[Arctic fox]

"Zynga has not replied to repeated requests for comment."

Fifth Amendment silence perhaps?

[SuccessCase]

The Facebook suit

... Is hardly a classifiable as a nuisance suit either. There is a genuine and serious grievance there. Yes a lot of small investors got their fingers burnt, yet the large institutional investors leading the offer and recommending the pricing (in receipt of 'privileged' information about future earnings) and who also purchased shares, didn't. Don't forget their duty was to fairly project the offer to the public. So how can that circle be squared? IMHO there is little doubt they 'deliberately' failed in their duty but, unfortunately for the small investor, they probably knew enough about how to play the system to be sure of being on the right side of the law (e.g. Enough parties new the information to satisfy the law the info had been made public, even if the those parties happened to be a cosy cartel of fat cats sureveying the field of Turkeys ripe for the "plucking.") So to imply it is merely a nuisance suit is hardly fair.

[Anonymous Coward]

Wait, investors thought a company with a lead product called "Mafia Wars"

was going to be straight about how they handled their money? Especially after their CEO proudly pontificated on his "screw the game player rubes" business model years ago?

[Anonymous Coward]

zynga and ads? yeah right...

they really need to look at their ad revenue... i, for one, while i do play zynga games and have actually paid in some real $$$ for a few things, do not ever see ANY ads from zynga or FB or most any other site i choose to visit... so, not only is there no facetime but there is also no clickthrus... all hail noscript and adblockplus! ;)

[Levente Szileszky]

Well, Pincus shafted plenty of other people...

...as most of Zynga's games are nothing but copycats - as far as I know they never had a single original idea + they were always very well aware of their coming demise with the inevitable fall of FB gaming (already started.)