The lights are on
A former Zynga product manager by the name of Wendy Lee is suing her previous employers over discrepancies in the firm's policies surrounding stock sales. Following the mobile and social game publisher's initial public offering on December 16, 2011, employees and other existing shareholders were prohibited from selling the shares they already held for 165 days.
According to the filing, top executives were cleared to sell off early. When those employees (current and former) who weren't included in the waiver were finally able to trade, share value had dropped nearly 50%. Lee is seeking damages on behalf of those individuals who were locked out due to the IPO.
Recently, we reported that Zynga was trying to stem the tide of executive departures with a new performance-based compensation structure.
[Source: Bloomberg via Gamespot]
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Well why am I not surprise by this turn of events. Of course any CEO would sell out before the market turns back and just ruins their employee's stocks to where they just pretty much lose everything.
Zynga's cook'in their own goose and adding the salt and pepper to it. . .
Scumbag Zynga strikes again.
One of the Worst Companies in America?
This company is a mess. It's making our industry look bad in the public market...
who the hell would buy stock in that company?
An all-too-familiar cash grab, with no regards for the hard working (and investing) people who got them where they are. Hope they get punched in the face (in addition to whatever monetary penalties they incur).
How come EA gets more bad rap than this company?
[Insert "DEATH TO ZYNGA!!!" comment here]
I wish zynga was on the "worst company in America" poll, they would have probably won over EA.
More suing and more money..it's all the same to me.
Die Zynga, die.