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Zynga to pay out $23m to settle claims it misled shareholders

10th August 2015 7:46 am GMT

Zynga is to pay out $23m to a group of disgruntled shareholders that have accused the operator of deliberately misleading them in order to inflate its share price around the time of its December 2011 initial public offering.

The plaintiffs claim that Zynga effectively defrauded shareholders by issuing false or misleading statements regarding the company’s business prospects and financial projections. An initial complaint, filed in July 2013, was dismissed in February last year, before an amended complaint [...]

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