Zynga Gets Sued For Blocking Abu Dhabi Firm From Buying Zynga Shares
Alpha Investments, an Abu Dhabi based investment firm, is suing Zynga for denying the investment company a right to purchase Zynga shares.
Alpha Investments, an Abu Dhabi based investment firm, is suing Zynga for denying the investment company a right to purchase Zynga shares.
According to the complaint filed at Delaware Chancery Court in Wilmington on Monday, Alpha Investments entered into a contract to buy one million shares from Andrew Trader, a former Zynga executive. Alpha agreed to pay Trader $12.87 million for the shares, a price that valued Zynga at around $6.2 billion.
Zynga stopped Alpha Investments from closing the deal by imposing restrictions on when Alpha can sell the shares that it was acquiring.
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