Key Developments: Electronic Arts Inc (EA.O)

EA.O on Nasdaq

67.80USD
2 Jul 2015
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Latest Key Developments (Source: Significant Developments)

Lieff Cabraser announces class action litigation against Electronic Arts, Inc
Thursday, 9 Jan 2014 09:00am EST 

Lieff Cabraser Heimann & Bernstein, LLP:Says that class action litigation has been brought on behalf all purchasers of the common stock of Electronic Arts, Inc. between July 24, 2013 and Dec. 4, 2013, inclusive.Says action charges Electronic Arts and certain of its officers and directors with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.Says complaint alleges that defendants issued materially false and misleading statements concerning Electronic Arts' rollout of version 4 of its Battlefield video game series that had provided about 11 pct of the company's revenues in fiscal 2012.  Full Article

Holzer & Holzer LLC files class action against Electronic Arts, Inc
Monday, 30 Dec 2013 11:17am EST 

Holzer & Holzer LLC:Says it has filed a class action lawsuit on behalf of investors who purchased Electronic Arts, Inc common stock between July 24, 2013 and Dec. 4, 2013.Says the complaint, which was filed in the United States District Court for the Northern District of California, alleges that a series of statements regarding the purported strength of company's rollout of Battlefield 4 were misleading.Says the lawsuit seeks recovery on behalf of investors who purchased company stock during that time only.  Full Article

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.  Full Article

Electronic Arts Inc Raises FY 2014 Guidance; Issues Q3 2014 Guidance Below Analysts' Estimates
Tuesday, 29 Oct 2013 04:05pm EDT 

Electronic Arts Inc announced that for fiscal 2014, it expects GAAP net revenue to be approximately $3.55 billion. Non-GAAP net revenue is expected to be approximately $4.00 billion. GAAP diluted loss per share is expected to be approximately $(0.72). Non-GAAP diluted earnings per share is expected to be approximately $1.25. For the third quarter of 2014, it expects GAAP net revenue is expected to be approximately $775 million. Non-GAAP net revenue is expected to be approximately $1,650 million. GAAP diluted loss per share is expected to be approximately $(1.42). Non-GAAP diluted earnings per share is expected to be approximately $1.22. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $1.22 for fiscal 2014; revenue of $1.75 billion and EPS of $1.32 for the third quarter of 2014.  Full Article

Electronic Arts Inc Signs Multi-Year Agreement With Ken Block For Need for Speed
Thursday, 24 Oct 2013 09:30am EDT 

Electronic Arts Inc announced a multi-year partnership with Ken Block and Need for Speed. The Need for Speed franchise is also sponsoring Block and his Ford Fiesta ST 2013 racing car and will be working with him on the release of Gymkhana SIX, the next installment of the viral video franchise, via the Need for Speed website and YouTube channel.  Full Article

Electronic Arts Inc Reaches Proposed Settlement With Athletes In Likeness Case, Says Hagens Berman
Thursday, 26 Sep 2013 07:22pm EDT 

Attorneys representing student athletes who claim Electronic Arts Inc illegally used student-athletes' likenesses in the Company's NCAA Football video games confirmed they have reached a proposed settlement. The settlement covers claims made in the Keller and O`Bannon case against EA along with the Alston and Hart cases, but must be approved by the court. The amount and other terms are confidential pending a court filing. EA and attorneys for the student-athletes reached the settlement after the United States Court of Appeals ruled in favor of the proposed class in an attempt by EA to dismiss the case. The ruling remanded the case to U.S. District Court, allowing attorneys for the plaintiffs to seek class certification.  Full Article

Electronic Arts Inc Names Internal Executive Andrew Wilson As CEO-DJ
Tuesday, 17 Sep 2013 04:28pm EDT 

Dow Jones reported that Electronic Arts Inc is turning Andrew Wilson, the head of its sports videogame brand, as its next Chief Executive (CEO), signaling to investors it plans to stay the course with offering a broad range of products.  Full Article

Electronic Arts Inc Reaffirms FY 2014 Guidance; Issues Q2 2014 Guidance Below Analysts' Estimates
Tuesday, 23 Jul 2013 04:05pm EDT 

Electronic Arts Inc announced that it is reaffirming its fiscal 2014 guidance. For fiscal 2014, the Company expects GAAP net revenue to be approximately $3.50 billion, Non-GAAP net revenue to be approximately $4.00 billion, GAAP diluted loss per share to be approximately ($0.98) and Non-GAAP diluted earnings per share (EPS) to be approximately $1.20. For the second quarter of 2014, the Company expects GAAP net revenue to be approximately $625 million, Non-GAAP net revenue to be approximately $975 million, GAAP diluted loss per share to be approximately ($1.22) and Non-GAAP diluted earnings per share to be approximately $0.12. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $4.00 billion and EPS of $1.20 for fiscal 2014; and revenue of $976 million and EPS of $0.15 for the second quarter of 2014.  Full Article

REFILE-US STOCKS-Wall St gives up initial gains as weak private job data weighs

May 6 - U.S. stocks turned negative on Wednesday, after opening slightly higher, as disappointing data, including weaker-than-expected private jobs numbers, fueled concerns about the economy's potential to rebound from a first-quarter slump.

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