Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Zynga, Inc.
NEW YORK, July 26, 2012 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC 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 the Company and certain of its officers.
On July 26, 2012, shares of Zynga plummeted nearly 40% after announcing one day earlier 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.
Bronstein, Gewirtz & Grossman, LLC investigation focuses on whether the Company misrepresented or failed to disclose material adverse facts about its business and financial condition. The investigation also focuses on the 43 million shares of personally held stock sold by Zynga's executive officers in April of 2012 at a price of $12 per share for proceeds totaling $516 million.
If you are aware of any facts relating to this investigation, or purchased shares of Zynga, you can assist this investigation by contacting either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman, 212-697-6484
SOURCE Bronstein, Gewirtz & Grossman, LLC