Law firm Holzer Holzer & Fistel LLC has sent out a press release explaining that they investigating EA about Battlefield 4 and the state of its development, and whether they violated federal securities laws. You can see the text of said release in their own site, in a page dedicated to EA, here.
Specifically, they are investigating statements made between July 24 to December 4 of this year. They are asking investors who purchases EA common stock within that time frame and who suffered losses from the investment to contact them (If you actually are an investor, please go to the link for the contact info).
Holzer Holzer & Fistel is an Atlanta based law firm that specializes in representing shareholders and investors in litigation, including class action and derivatives related litigation.
This appears to be a response from a statement made by DICE published just one week ago, where they explained that fixing Battlefield 4 is their top priority over new DLC or games. Investors did not take kindly to the news, with share prices dropping rapidly. DICE released a clarificatory statement since then, explaining that no pending game projects have been delayed. Subsequently, stocks rebounded.
Although we do not want to see any developer get sued for their games, we are sorry to say there may be a case to be made here. As early as last October, it had become clear that Battlefield 4 was broken, and since then DICE was not really able to completely fix the game. Holzer Holzer & Fistel may allege that DICE misled investors and consumers with the game being ready to release in time for the holiday season. They may also look into whether the pending release of the Playstation 4 and Xbox One was also a factor in deciding the game’s release date.
On my end, I would say to the regular Battlefield player and fan, do not take sides in this situation, and pay close attention for now. You also have a right to know if DICE misled consumers about the game being ready to release, and if it can be proven in court.
