BF4 CLASS ACTION LAWSUIT (Escapist News Now)
The Escapist
2015-06-19
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BF4 CLASS ACTION LAWSUIT (Escapist News Now)
EA could be facing 2 different lawsuits. One Georgia firm is investigating the company over concerns about development and sales performance statements, while the legal team behind the Enron lawsuit has begun another lawsuit against the publishing giant.
Robbins Geller Rudman & Dowd LLP alleges violations of the Securities Exchange Act of 1934 against EA. The details of complaint suggest that members of the company issued, "materially false and misleading statements" regarding Battlefield 4. As a direct result of these statements, EA's share value reached a high during that period allowing certain executives to sell their shares at an inflated price.
The lawsuit also mentions the PS4 version of the game which has suffered numerous issues like server errors and various bugs and glitches, and how statements made from EA about this issues affected stock prices.
The goal of the law firm is to receive damages on behalf of everyone who purchased EA common stock during the class period. It is important to note that this lawsuit hasn't officially been filed, as a lead plaintiff has not been named. There is a deadline of February 15th, 2014.
EA told GameSpot, "We believe these claims are meritless. We intend to aggressively defend ourselves, and we're confident the court will dismiss the complaint in due course."
Source Link: http://www.gamespot.com/articles/class-action-lawsuit-commenced-over-buggy-battlefield-4-ea-calls-it-meritless-update/1100-6416790/
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Escapist News Now with Andrea Rene
Follow Andrea on Twitter @andrearene
BF4 CLASS ACTION LAWSUIT (Escapist News Now)
EA could be facing 2 different lawsuits. One Georgia firm is investigating the company over concerns about development and sales performance statements, while the legal team behind the Enron lawsuit has begun another lawsuit against the publishing giant.
Robbins Geller Rudman & Dowd LLP alleges violations of the Securities Exchange Act of 1934 against EA. The details of complaint suggest that members of the company issued, "materially false and misleading statements" regarding Battlefield 4. As a direct result of these statements, EA's share value reached a high during that period allowing certain executives to sell their shares at an inflated price.
The lawsuit also mentions the PS4 version of the game which has suffered numerous issues like server errors and various bugs and glitches, and how statements made from EA about this issues affected stock prices.
The goal of the law firm is to receive damages on behalf of everyone who purchased EA common stock during the class period. It is important to note that this lawsuit hasn't officially been filed, as a lead plaintiff has not been named. There is a deadline of February 15th, 2014.
EA told GameSpot, "We believe these claims are meritless. We intend to aggressively defend ourselves, and we're confident the court will dismiss the complaint in due course."
Source Link: http://www.gamespot.com/articles/class-action-lawsuit-commenced-over-buggy-battlefield-4-ea-calls-it-meritless-update/1100-6416790/
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Check out our Merch: http://www.splitreason.com/theescapist
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