Please support Game Informer. Print magazine subscriptions are less than $2 per issue
Zynga Executives And Investors Facing Insider Trading Lawsuit
Zynga recently experienced a crash in its stock, which was preceded by many of the company's investors and executives cashing out its stock investments in the company for huge sums. Now the company is facing a number of insider trading lawsuits.
The simplified version of the issue here is that investors and executives of Zynga, including founder Marc Pincus and COO John Schappert, all sold their stock at, "exactly the right time," right before the Zynga stock crashed, according to Business Insider's Henry Blodget, which is suspect. Those who cashed out their stock are now facing five lawsuits with accusations of insider trading. The assumed insiders made approximately $516 million before the stock crashed.
For more, check out our previous story:
Zynga Insiders Dumped 43 Million Shares Before Stock Crashed
[via Joystiq]
I’d like to ask you to support Game Informer’s continued coverage of games with a subscription. For less than two dollars per issue, we mail you a full year of 10 print magazines, each with cover stories and preview features filled with exclusive details about the most exciting upcoming games. We profile and interview game creators. We look back on the rich history of gaming, and we celebrate what’s next.
Here on the website, we offer much of our content for free, including game reviews, daily news, videos, event coverage, and more – all with minimal ads.
We do so with a small editorial team, alongside contributing paid writers from around the world – over 65 individuals from 9 countries around the world, just in the last couple of years.
It’s not possible without support.
In a time when game makers and games coverage have faced hard struggles and layoffs, the future of this 30+ year magazine and community is at risk. Our new standalone magazine subscription is the number one way you can keep us alive – and we believe you’ll get a pretty fantastic gaming magazine in your mailbox every few weeks for your trouble.
Thank you.
