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Judge rules against shareholders who sued over Battlefield 4 fiasco

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MSim
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2014/10/23 02:14:01 (permalink)

A federal judge has ruled against shareholders who claimed that Battlefield 4's disastrous launch and online performance directly harmed Electronic Arts' share price and that senior executives knew the game was unready and made or approved false claims about its quality.
 
Judge Susan Illston of U.S. District Court for the Northern District of California said statements made by EA chief executive Andrew Wilson and chief financial officer Blake Jorgensen were "puffery," and "a vague statement of corporate optimism," that any company would make of its products, not "materially false and misleading statements," as the original lawsuit alleged.
 
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#1

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    the_Scarlet_one
    formerly Scarlet-tech
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    Re: Judge rules against shareholders who sued over Battlefield 4 fiasco 2014/10/23 03:04:15 (permalink)
    I don't know what one should feel about this. I don't believe shareholders should ever be able to sue, because it is always a gamble in this situation no matter the product in question.
    #2
    rjohnson11
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    Re: Judge rules against shareholders who sued over Battlefield 4 fiasco 2014/10/23 04:23:03 (permalink)
    Scarlet-Tech
    I don't know what one should feel about this. I don't believe shareholders should ever be able to sue, because it is always a gamble in this situation no matter the product in question.

    I disagree. Shareholders should be able to sue in the case of massive fraud or other such events.

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    #3
    the_Scarlet_one
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    Re: Judge rules against shareholders who sued over Battlefield 4 fiasco 2014/10/23 04:34:47 (permalink)
    Then why not let everyone that pre-ordered the game get their money back? They were promised everything the share holders were promised.  We all took a chance, and thought it was going to be awesome.  Everyone got screwed except for EA/DICE right off the bat.  People invested to make money, and they lost money.It happens all the time.  Buying stocks is a dangerous game. Investing in an unproven product is an even more dangerous game.  People invest and buy into the schemes all the time and lose money.  Rarely do they get it back.  
     
    With hearing that BF3 had a rocky launch (I wasn't around internet where I could play multiplayer at all, so I didn't get to play until 7 months after the release), what made people think that BF4 would be better knowing that EA was rushing it? 
     
    Hardline is supposedly releasing a new Beta, after revamping the game to move away from the BF4 expansion pack feel.. I still won't buy into that, because EA has it's greedy hands in the pot. Maybe after release, but it will be at least a month after before I take that chance.  
    #4
    aka_STEVE_b
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    Re: Judge rules against shareholders who sued over Battlefield 4 fiasco 2014/10/23 05:08:37 (permalink)
    ** Slides envelope of money under judges' robes and quietly walks away **
     
    ** wink wink - nudge nudge ** 
     
     
     
    ..and in other news - Judge Susan Illston announces her retirement party and moving to her new home in Switzerland....Film at 11 
     

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    Brad_Hawthorne
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    Re: Judge rules against shareholders who sued over Battlefield 4 fiasco 2014/10/23 12:07:17 (permalink)
    Apparently the shareholders had an ineffectual legal team.
    #6
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