“Zynga’s regular employees were still locked up from selling their shares. But the guys at the top, who saw what was coming down the pipe, got to cash out,” said Ferrara attorney Roy Shimon. By the time the original lockup expired on May 28th, the company’s share price had dropped to $6. After last week’s earnings report it dropped to just over $3.
I think everyone knew that Zynga was run by a bunch of scumbags. But amazing that they’d employees and shareholders so in the lurch.