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
- SJ store owner gets $1M for selling winning ticket 9 min ago
- Family to hold prayer vigil for girl on life support
- Behind-the-scenes: Saying farewell to 'The Stick'
- Fire at metal plant doesn't help hazy skies
- Georgia woman has 1 of 2 winning lottery tickets
- Richmond council votes for foreclosure prevention plan
- Hero guide dog assured good home after NY rescue 37 min ago
- Online retailers take part in Free Shipping Day
- Woman distracted by FB on phone falls off pier 25 min ago
- Winter Spare the Air Alert called through Wednesday
- abcnews: Justin Bieber says 'I'm Retiring' from music
- Bay Area New Year's Eve fireworks and events
- roundup: Stolen ATM recovered; SF shooting
- weather: Bay Area weather forecast for Thursday 57 min ago
- Bay Area weather forecast for Thursday
58 min ago
- Hero guide dog assured good home after NY...
37 min ago
Most Viewed StoriesMost Viewed Photos