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October 27, 2015
A California federal judge on Monday preliminarily approved a $23 million settlement between banking giants including Goldman Sachs & Co. and investors in a consolidated suit against Zynga Inc., alleging company insiders misrepresented the gaming company’s financial health and sold stock before a weak second quarter earnings report. (Correction: An earlier story incorrectly stated that Zynga underwriters were parties to the settlement. The error has been corrected.)
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