CHANNELS

Subscribe to the InfoTech eNewsletter

infoTECH News

TMCNet:  Electronic Arts Shareholder Alert: Former SEC Attorney Willie Briscoe and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors

[January 03, 2014]

Electronic Arts Shareholder Alert: Former SEC Attorney Willie Briscoe and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors

DALLAS --(Business Wire)--

Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed against Electronic Arts, Inc. ("EA" or "Company") (NasdaqGS: EA) and several officers and directors for acts taken during the period of July 24, 2013 to December 4, 2013 (the "Class Period").

Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of EA. If you are an affected EA shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zach Groover at Powers Taylor LLP, toll free (877) 728-9607, or via e-mail at shareholder@powerstaylor.com. There is no cost or fee to you.

In the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges that defendants misrepresented and/or failed to disclose that (i) Battlefield 4 contained multiple bugs and other problems, including, among other things, downloadable content that allowed players access to more levels of the game, connectivity issues, server limitations, lost data, repeated sudden crashes and the game incorrectly registering on-target shots; (ii) due to the above issues, EA would not achieve a successful holiday season 2013 rollout of Battlefield 4; (iii) the performance of the EA unit publishing Battlefield 4 was so deficient that all other projects that unit was involved in had to be put on hold to permit it to focus its efforts towards fixing Battlefield 4; and (iv) as a result, EA was not on track to achieve the financial results it had told the market it was on track to achieve during the Class Period. According to the complaint, when the truth was revealed to the market, EA stock plummeted over 28% from its Class Period high.

The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.


[ InfoTech Spotlight's Homepage ]


blog comments powered by Disqus

FOLLOW US

Subscribe to InfoTECH Spotlight eNews

InfoTECH Spotlight eNews delivers the latest news impacting technology in the IT industry each week. Sign up to receive FREE breaking news today!
FREE eNewsletter