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.