San Diego-based law firm Robbins Geller Rudman & Dowd LLP is pursuing a class-action lawsuit against Electronic Arts for allegedly making several misleading statements to investors during Battlefield 4‘s development.
The suit is filed on behalf of all who purchased EA common stock between July 24th and December 4th. The firm claims that during that period EA officers and directors issued “materially false and misleading statements” about Battlefield 4. This resulted in EA’s share value reaching a high for that period, allowing EA senior executives to sell their shares at the higher price. EA announced on December 4th that DICE had put all its future projects and Battlefield 4 expansions on hold until the game was fixed. That statement resulted in EA’s shares dropping.
An EA representative told GamesIndustry International: “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.”
Georgia-based law firm Holzer Holzer & Fistel LLC began a similar case last week, alleging misleading statements were issued to investors and analysts.