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Zynga Slapped with Dueling Shareholder Lawsuits

  

Lawsuits against the Farmville-maker are beginning to pile up with allegations of executives keeping slumping revenue and user growth a secret.

It’s been a dismal week for Zynga. First news of bleak revenue growth in the second quarter followed by plunging stock prices, then accusations of insider trading… and now the gaming company is being slapped with two shareholder lawsuits.

The almost identical lawsuits are being filed by two California law firms seeking class-action status on behalf of stockholders who are accusing Zynga of not warning them about slumping revenue growth before the company’s shares plummeted 42 percent last week, according to Reuters.

Source: CNET

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