EA Facing Another ‘Battlefield 4’ Lawsuit
EA is facing yet another lawsuit over Battlefield 4.
Maryland-based law firm Brower Piven announced this week that it was in the process of seeking EA shareholders who could participate in a potential class-action lawsuit, according to GameSpot.
In a press release, Brower Piven encouraged shareholders who have suffered a net loss from EA stock purchased on or after July 24 to get in contact with the firm before February 17, 2014 to obtain information about becoming a lead plaintiff in the lawsuit.
The complaint accuses EA of violating the Securities Exchange Act of 1934 by failing to disclose that Battlefield 4 was “riddled with bugs, connectivity issues, and several other problems.” The complaint also said that after the company revealed that bugs and other problems had “indefinitely halted the rollout of Battlefield 4 and delayed other EA projects, the value of EA shares declined significantly.”
The Brower Piven follows one filed by Robbins Geller Rudman & Dowd earlier this week. The securities law firm claimed that EA “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.”
RGRD alleged that EA knowingly or recklessly made false or misleading statements about the quality of Battlefield 4 in order to increase game sales. The suit claimed that EA announced in July that Battlefield 4 had drawn “spectacular praise” and was “resonating with critics and consumers.”
EA denied the allegations set forth in the RGRD lawsuit.
“We believe these claims are meritless,” EA’s senior director of corporate of corporate communications John Reseburg told GamaSutra. “We intend to aggressively defend ourselves, and we’re confident the court will dismiss the complaint in due course.”
Earlier this month, Georgia corruption law firm Holzer Holzer & Fistel launched an investigation into EA hoping to determine whether the game publisher complied with federal securities laws surrounding Battlefield 4. The investigation will focus on statements EA made between July 24 and December 4 regarding the development and sales performance of Battlefield 4.
[Photo credit: Javier Dominguez Ferreiro / Flickr]
