EA released a buggy game and mislead public, while execs sold millions worth of shares right before BF4's release.
The problems just keep piling up for EA regarding Battlefield 4. First its share price took a massive hit when they delayed other DICE games in order to fix Battlefield 4, and now EA is facing a class-action lawsuit over the game.
The legal team from Robbins Geller Rudman & Dowd will file a class-action lawsuit against EA, alleging a breach of the Securities Exchange Act of 1934. The lawyers claim EA misled the public and investors over the condition of Battlefield 4.
To make matters more interesting — and probably in the lawyers’ favor — it was revealed that several EA executives sold almost $5 million worth of shares just before Battlefield 4 launched. This certainly doesn’t help EA’s case.
Robbins Geller Rudman & Dowd allege that EA deliberately misled the public which led to a rise in EA’s stock, which reached a high of $28, where EA executives sold some of their shares. EA’s stock is now down to $23.
The lawyers are now looking for people who purchased EA stock in the last quarter, to join the class action lawsuit and get compensated for EA’s alleged misleading statements.
All this legal mumbo jumo doesn’t mean a lot to Battlefield 4 gamers. All we want is a working game. And maybe an apology from DICE and EA. A free DLC wouldn’t hurt, either.
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The legal team from Robbins Geller Rudman & Dowd will file a class-action lawsuit against EA, alleging a breach of the Securities Exchange Act of 1934. The lawyers claim EA misled the public and investors over the condition of Battlefield 4.
To make matters more interesting — and probably in the lawyers’ favor — it was revealed that several EA executives sold almost $5 million worth of shares just before Battlefield 4 launched. This certainly doesn’t help EA’s case.
Robbins Geller Rudman & Dowd allege that EA deliberately misled the public which led to a rise in EA’s stock, which reached a high of $28, where EA executives sold some of their shares. EA’s stock is now down to $23.
The lawyers are now looking for people who purchased EA stock in the last quarter, to join the class action lawsuit and get compensated for EA’s alleged misleading statements.
All this legal mumbo jumo doesn’t mean a lot to Battlefield 4 gamers. All we want is a working game. And maybe an apology from DICE and EA. A free DLC wouldn’t hurt, either.
More...
