Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of Electronic Arts, Inc. (“EA” or the “Company”) (NasdaqGS: EA) common stock during the period between July 24, 2013 and December 4, 2013, inclusive (the “Class Period”).
If you have suffered a net loss from investment in Electronic Arts, Inc. common stock purchased on or after July 24, 2013, and held through any of the revelations of negative information on November 15, 2013 and/or December 4, 2013, as described below, at no cost to you, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at firstname.lastname@example.org, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than February 17, 2014 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that Battlefield 4, one of the Company’s signature video games, was riddled with bugs, connectivity issues, and several other problems that caused the EA unit publishing Battlefield 4 to put all other projects on hold to permit it to focus its efforts on fixing Battlefield 4. According to the complaint, following the November 15, 2013 disclosure that EA games experienced multiple glitches and significant crashes on the newly released Sony Play Station 4 console and the December 4, 2013 disclosure that bugs, connectivity issues, server limitations and other problems plaguing Battlefield 4 indefinitely halted the rollout of Battlefield 4 and delayed other EA projects, the value of EA shares declined significantly.
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