Zynga SERVED with Class Action Suit and 4 High Demand Social Media Stocks
Facebook, Inc. (NASDAQ:FB): The efficacy of Facebook Inc.’s advertising is a hot topic as Limited Run’s allegations shot to the top of the digerati hub, Hacker News. A spokesperson for Facebook stated, “We’re trying to work with Limited Run to investigate these claims, but we haven’t received any data yet to support them.” Thus far, the social media company does not know what went wrong and they have seen no actual evidence of a bot swarm. Their shares traded up $1.91 (9.53%), they were recently at $21.95.
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LinkedIn Corporation (NYSE:LNKD): Shares of LinkedIn Corporation took the spotlight early today to highlight a tech sector rally that has been powered by positive U.S. employment growth. Their stocks traded up $13.84 (14.80%), they were recently at $107.35.
Groupon, Inc. (NASDAQ:GRPN): Shares of Groupon, Inc. have muscled 5% higher today thanks to both a sector peer’s earnings win and broad-market tailwinds. What’s more, it looks like some options traders are expecting GRPN to extend their rebound over the next few weeks, with traders showing a relatively rare affinity for calls. GRPN has seen about 2,600 calls change hands, which doubles the number of puts exchanged. This call-bias run counter of the recent trends has been seen on the International Securities Exchange (ISE), Chicago Board Options Exchange (NASDAQ:CBOE), and NASDAQ OMX PHLX (PHLX), where GRPN sports a 10 day put/call volume ratio of 1.48. In other words, option buyers have scooped up more puts over calls during the past couple of weeks. Their shares traded up $0.21 (3.29%), recently at $6.59.
Pandora Media, Inc. (NYSE:P): Pandora Media, Inc has been eying the market for their radio service outside of the USA. However, this seems like it would be a bit of a stretch. The company’s stock has been bobbing all over the place, in the last months, with highs of around $12, compared to yesterday’s $9.12 close. Their shares traded up $0.42 (4.61%), they were recently at $9.54.
Zynga, Inc. (NASDAQ:ZNGA): Law Offices of Bernard M. Gross, P.C. filed a class action lawsuit in the United States District Court, Northern District of California, 12-cv- 4066, on behalf of all persons who purchased Zynga, Inc.’s common stock during the period December 26, 2011 through July 25, 2012. This suit against Mark Pincus, David M. Wehner and John Schappert is for violations of the Securities and Exchange Act of 1934. The complaint alleges that during the Class Period, defendants issued false and misleading statements regarding Zynga’s business and prospects, including in Registration Statements and Prospectuses for the Company’s initial public offering (“IPO”), as well as a secondary offering of their Class A common stock. Due to false statements by the defendants Zynga’s stock traded at artificially-inflated prices during the Class Period and reached a high of $14.69 per share on March 2, 2012. Their shares traded up $0.08 (2.96%), they were recently at $2.78.
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