Zynga accused of insider trading
SAN FRANCISCO (KGO) -- The maker of the popular web video game, Farmville, has been hit with a class action lawsuit alleging insider trading.
The suit claims executives of San Francisco-based Zynga knew the company was struggling when they sold millions of shares before announcing a substantial drop in projected earnings.
Last week Zynga reported second quarter earnings of 23 to 29 cents a share. Since that time, the company's shares have dropped 40 percent.
zynga, lawsuit, IPO, technology
- Security heightened at 2013 Bay to Breakers in SF
- Report: Corrosion a problem on new Bay Bridge
- NFL set to vote if Bay Area will host Super Bowl
- Tejay van Garderen wins Tour of California
- Woman suspected of starting brush fire arrested
- Man falls from building during Bay to Breakers party
- Tornado levels homes in Oklahoma City trailer park
- 2 men arrested in killing teen over iPad in Las Vegas
- Girl killed, parents hurt by shots fired into home
- Startups use Netflix rental model for clothing, jewelry
- Apps help protect your smartphone from snoops
- abcnews: SEAL auctions bin Laden raid knife
- roundup: Fairfield shooting; Redwood City fire
- weather: Bay Area weather forecast for Monday
Most Viewed StoriesMost Viewed VideoMost Viewed Photos