Zynga Can't Ditch Shareholder Action Over Facebook Link

Law360, San Francisco (August 2, 2013, 7:49 PM EDT) -- A California state judge Friday refused to let Zynga Inc. ditch a shareholder class action on grounds that a similar suit is pending in California federal court, but agreed to stay the state action pending a ruling on Zynga’s motion to dismiss the federal case.

San Francisco Superior Court Judge John Munter rejected Zynga's arguments that his court doesn't have jurisdiction over a case brought under the federal Securities Act of 1933 when there's a concurrent federal action. Not only did the Ninth Circuit's ruling in...
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