Tuesday December 06, 2016

Court Revives Case Over Zynga's Alleged Insider Trading

I don't know why this is a big deal. Isn't one of the perks of being a CEO getting a little insider information so you can rake in millions before your stock takes a dump? Sheesh, way to overreact everyone. big grin

The Delaware Supreme Court revived a lawsuit against Zynga Inc's controlling shareholder, Mark Pincus, and fellow board members for allegedly allowing leaders of the social gaming company to act on inside information and dump stock before it crashed in 2012. Delaware's high court ruled that the Court of Chancery erred when it dismissed the lawsuit against the board of Zynga, which created the online game Farmville, in February for procedural reasons.