Social game giant Zynga sued for not releasing key data

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Tencent Science and Technology (Lin Jingdong) Beijing time August 1 news, according to foreign media reports, the United States in California, Kessler Topaz Meltzer & Check LLP law firm to the social game giant Zynga filed a lawsuit, The latter did not disclose the rapid decline in users and revenues in earnings reports.

Zynga last week released its latest quarterly earnings, which showed its performance was well below expectations, while Zynga downgraded its 2012 revenue forecasts. After the earnings release, Zynga stocks fell 42% and reached record lows, and industry analysts downgraded their ratings.

Zynga's performance has clouded Facebook, which has about 15% of its revenue from Zynga's games.

Kessler Topaz Meltzer & Check LLP accuses Zynga of concealing the fact that the number of users has declined and that sales of virtual props have fallen. The Kessler Topaz Meltzer & Check Limited Liability company also filed a petition with the court to file the case as a group lawsuit in an indictment filed late in Monday.

Zynga did not comment.

Zynga shares fell 3% to 2.91 in early trading in Tuesday.