A lawsuit was filed by a current NASDAQ:ZNGA investors over alleged breaches of fiduciary duties by certain directors of Zynga Inc.and NASDAQ:ZNGA investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com

San Diego, CA -- (SBWire) -- 04/10/2013 --An investor who holds NASDAQ:ZNGA shares filed a lawsuit against certain directors of Zynga Inc (NASDAQ:ZNGA) over alleged breaches of fiduciary duties.

Investors who are current long-term stockholders in shares of Zynga Inc (NASDAQ:ZNGA) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that the defendants breached their fiduciary duties and violated California Corporations Code section 25402 in connection with Zynga’s initial public offering in December 2011, the secondary offering in April 2012, and allegedly made false or misleading statements regarding the Company’s business and financial projections.

Zynga Inc reported that its annual Revenue rose from $121.47 million in 2009 to $1.14billion in 2011. Shares of Zynga Inc (NASDAQ:ZNGA) grew from $9.50 in December 2011 to as high as $14.69 per share in March 2, 2012.

Then on July 25, 2012, Zynga Inc (NASDAQ:ZNGA) reported its second quarter 2012 financial results. Among other things, Zynga Inc announced a net loss of $22.8 million for the second quarter of 2012. In addition, Zynga Inc announced that it is lowering its outlook for 2012.

Shares of Zynga Inc (NASDAQ:ZNGA) dropped from $5.078 per share on July 25, 2012, to $3.02 per share on July 26, 2012 and continued to decline to as low as $2.10 per share in November 2012.

On April 9, 2013, NASDAQ:ZNGA shares closed at $3.39 per share, which is significantly below its current 52 week High of $12.34 per share.

Those who are current long-term stockholders in shares of Zynga Inc (NASDAQ:ZNGA) you have certain options and you should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com