Zynga insider stock sales raise Wall Street eyebrows

Friday, 27 July 2012 03:05 GMT By Brenna Hillier

The latest on dit on financial blogs is an angry buzz over yesterday’s Zynga stock crash. What’s got knickers in a twist is that a number of well-placed Zynga insiders – CEO Marc Pincus, COO John Schappert and and CFO David Wehner – sold off a stack of stock at around $12, weeks before Zynga revealed its quarterly earnings and precipitated a plummet to $3. VentureBeat reports there’s no evidence of shady practices; Zynga took steps to stop stockholders offloading too much stock, and indeed most insiders held on to the majority of their shares.

Sometimes we include links to online retail stores. If you click on one and make a purchase we may receive a small commission. For more information, go here.

ADVERT