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EA sued for misleading investors about Battlefield 4

EA sued for misleading investors about Battlefield 4

Electronics Arts has been sued by an investor over the release of Battlefield 4 which reportedly has a lot of bugs across all gaming platforms.

An investor has filed a class-action lawsuit with the Court of Northern District of California accusing Electronic Arts of violating federal securities laws by making “materially false and misleading statements” about the development of Battlefield 4. According to the filing, EA and some of its executives knew about the game’s bugs and that it would not be a commercial success but provided false information to investors to keep the stock price of the company high during high volume sales.

The filing has been made on behalf of every consumer who purchased the company’s stock between July 24 and December 4. The names mentioned in the filing include CEO Andrew Wilson, CFO Blake Jorgenson, EA Labels president Frank Gibeau, EA Games executive vice president Patrick Soderlund, and EA president and COO Peter Moore. At least $1 million worth of shares were sold by the individuals named in the lawsuit except for Jorgenson.

The investor has alleged that EA knew about Battlefield 4’s issues but directed the blame towards Sony’s firmware through a customer service post which was later retracted. Microsoft has also been investigating post-DLC issues with Battlefield 4.

 

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