It was bound to happen eventually: Zynga (ZNGA -2.7%) and its underwriters have been hit with a...

|About: Zynga (ZNGA)|By:, SA News Editor

It was bound to happen eventually: Zynga (ZNGA -2.7%) and its underwriters have been hit with a class-action suit over the huge insider sales conducted through an April 3 secondary offering, Those sales happened at $12 - Zynga is trading at 1/4 that level following a brutal Q2 report. However, as Dan Primack points out, the plaintiffs' case is hurt by the fact Zynga delivered a Q1 beat following the offering.