Robbins Geller Rudman & Dowd LLP files class action suit against Electronic Arts Inc

Tuesday, 17 Dec 2013 05:04pm EST 

Robbins Geller Rudman & Dowd LLP:Says a class action has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of Electronic Arts, Inc. common stock during the period between July 24 and Dec 4.Says the complaint alleges that during the Class Period, defendants issued materially false and misleading statements highlighting the purported strength of the company`s rollout of version 4 of its all-important Battlefield video game series, which had provided about 11pct of its revenues in FY2012.Says based on the purported strength of the Battlefield 4 rollout then underway, defendants issued strong fiscal 2014 financial guidance for the company and actually increased that guidance on Oct 29.Says the complaint further alleges that, on Nov 15, the day Sony released its new Play Station 4 (PS4) console, it was disclosed that players of Electronic Arts` games were being subjected to multiple glitches and crashes when attempting to play Electronic Arts` titles on PS4.Says on Dec 4, it was disclosed through discussions defendants had with video game bloggers that due to bugs, connectivity issues, server limitations, and various other problems plaguing Battlefield 4, Electronic Arts had been forced to indefinitely halt the Battlefield 4 rollout and other projects. 

Company Quote

0.75 +1.12%
28 Aug 2015