Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
October 23, 2014
arrowPress Releases
October 23, 2014
PR Newswire
View All





If you enjoy reading this site, you might also want to check out these UBM Tech sites:


U.S. judge dismisses Zynga investor lawsuit
U.S. judge dismisses Zynga investor lawsuit
February 26, 2014 | By Mike Rose

February 26, 2014 | By Mike Rose
Comments
    Post A Comment
More: Social/Online, Smartphone/Tablet, Business/Marketing



Newsbrief: Following Zynga's initial public offering, a California firm filed a lawsuit against the company, stating that Zynga failed to disclose the decline in users and revenue prior to the IPO.

A U.S. District Judge has now dismissed the lawsuit, stating that the complaint did not provide "relevant, basic factual details" to support the claims against Zyna.

As reported by Reuters, a partner representing the plaintiffs said that they were disappointed with the ruling, but that "we are confident that the case will proceed, as we believe we will more than satisfy the court's concerns when we file our amended complaint."

Although Gamasutra noted at the time that these sorts of lawsuits rarely go anywhere, they can often act as a distraction, and tend to weigh down stock at key periods.

UPDATE: A Zynga representative provided the following statement to Gamasutra regarding the court's decision:

"We are pleased with today’s order and continue to believe in the merits of our defense. The focus for Zynga is on our forward-looking business and delivering on our 2014 goals of growing and sustaining our proven franchises and creating new hits."


Related Jobs

Nexon America, Inc.
Nexon America, Inc. — El Segundo, California, United States
[10.22.14]

Localization Coordinator
Petroglyph Games
Petroglyph Games — Las Vegas, Nevada, United States
[10.22.14]

Producer
DeNA Studios Canada
DeNA Studios Canada — Vancouver, British Columbia, Canada
[10.22.14]

Analytical Game Designer
Xsolla
Xsolla — Sherman Oaks, California, United States
[10.22.14]

Senior Business Development Manager










Comments



none
 
Comment: