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Farmville maker Zynga to face lawsuit over 2011 IPO
2015-03-27 09:11:00| Telecompaper Headlines
(Telecompaper) Social game developer Zynga, best known for its 'Farmville' game, is to face a lawsuit alleging fraud by its management regarding its prospects before and after a December 2011 initial public offering, reports Reuters. US District Judge Jeffrey White ruled in San Francisco that shareholders could pursue claims that Zynga hid declining user activity, failed to inform them how changes to Facebook would affect demand and overstated its 2012 revenue forecast. Zynga's share value plummeted in the summer of 2012 after the company reported disappointing earnings and cut its outlook. The shareholders also alleged that Zynga deliberately concealed its weaknesses so that insiders could sell USD 593 million of stock before a post-IPO lockup was to expire, thus avoiding a near 75 percent drop in its share price over the subsequent four months.
Lancaster Colony/Marzetti Acquire Flatbread Maker
2015-03-19 21:33:00| Food Processing
Flatout Holdings Inc. bought from North Castle Partners for $92 million.
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Lancaster Colony paying $92M for flatbread maker Flatout
2015-03-14 13:57:29| Food - Topix.net
The Columbus-based food manufacturer known for its Marzetti salad dressing brands bought Flatout Holdings Inc., known for its Flatout flatbreads that come in 100 calorie serving sizes and are popular as a lower-calorie alternative for pizza crust.
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Truck maker Man Se forecasts troubled 2015 on Brazilian issues
2015-03-11 10:49:08| Automakers - Topix.net
MAN SE is the third-biggest truck maker in Europe and the company has recently predicted its earnings margins and revenue would fail to soar this year because of a delivery slump triggered by financial trouble in its key markets. According to the Munich-based truckmaker, a division under the guidance of parent company Volkswagen AG - the second largest automaker in the world and the biggest in Europe - said that forecasted quotas of commercial vehicles and power-engineering orders would "slightly" dip below the sales level seen last year.
Maker of kids' Tylenol pleads guilty over metal particles
2015-03-10 20:45:11| Biotech - Topix.net
A subsidiary of Johnson & Johnson has pleaded guilty to a federal criminal charge that it sold infants' and children's liquid medications that contained metal particles. McNeil Consumer Healthcare, of Fort Washington, Pennsylvania, acknowledged producing adulterated bottles of Infants' and Children's Tylenol and Children's Motrin.
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