The Briscoe Law Firm and Powers Taylor LLP Announce Investigation of Zoo Entertainment, Inc.

Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announce that a federal class action lawsuit has been filed against Zoo Entertainment, Inc. (“Zoo Entertainment” or “ZOOG”) (NASDAQ: ZOOG). The firms are investigating additional potential legal claims against the officers and Board of Directors of Zoo Entertainment, including claims for breach of fiduciary duty, on behalf of investors who owned or purchased ZOOG shares during the period of May 17, 2010 through April 15, 2011 (the “Class Period”).

If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

It has been alleged in a recently-filed complaint that during the Class Period, Zoo Entertainment and certain of its officers and directors made materially false and misleading statements or failed to disclose material information related to Zoo Entertainment’s business and operations in violation of the Securities Exchange Act of 1934. Specifically, it is alleged that defendants caused Zoo Entertainment to report financial results that overstated shareholder equity by over $250,000 and inflated both net income and diluted net income per common share by 660% and 900%, respectively. On April 15, 2011, when Zoo Entertainment reported that it erred “in recording certain transactions in the company’s previously filed unaudited consolidated financial statements,” the stock plummeted more than 34%.

The Briscoe Law Firm is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

Zoo Entertainment, Inc. (MM) (NASDAQ:ZOOG)
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