The legal team behind the famous Enron lawsuit has put up a second-class action lawsuit against EA, citing that the publisher has made materially false and misleading statements about their game: Battlefield 4.
A week ago, another U.S. based law firm ‘Holzer Holzer and Fistel LLC’ started investigating EA, but it looks like Robbins Geller Rudman & Dowd LLP have went ahead and filed a lawsuit against the famous games developer. The law firm stated that EA has intentionally misled their stocker holders and even let their higher management to cash in on stocks even with the knowledge that the game has a serious number of bugs at the time of launch.
However, EA still claimed that Battlefield 4 will be a perfect end product via interviews and during conference calls with investors. Its been alleged that the CEO Andrew Wilson sold 40,000 shares for $25.50 on July 26th making a total sale of over $ 1 Million. The class action lawsuit can be read over here.
EA Senior Director of Corporate Communications John Reseburg said:
“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.”