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Farmville maker Zynga to face lawsuit over 2011 IPO

2015-03-27 09:11:00| Telecompaper Headlines

(Telecompaper) Social game developer Zynga, best known for its 'Farmville' game, is to face a lawsuit alleging fraud by its management regarding its prospects before and after a December 2011 initial public offering, reports Reuters. US District Judge Jeffrey White ruled in San Francisco that shareholders could pursue claims that Zynga hid declining user activity, failed to inform them how changes to Facebook would affect demand and overstated its 2012 revenue forecast. Zynga's share value plummeted in the summer of 2012 after the company reported disappointing earnings and cut its outlook. The shareholders also alleged that Zynga deliberately concealed its weaknesses so that insiders could sell USD 593 million of stock before a post-IPO lockup was to expire, thus avoiding a near 75 percent drop in its share price over the subsequent four months.

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Zynga Heads Back to the FarmVille Trough

2014-04-18 14:00:00| TechNewsWorld

Zynga is once again plowing the furrow of its greatest success with the launch of FarmVille 2: Country Escape. The latest title from the casual gaming studio is a mobile-focused effort. Zynga has launched the game globally on iPhone, iPad and Android devices. FarmVille 2: Country Escape was crafted from the ground up as a new mobile experience.

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