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Holzer Holzer & Fistel Announces Investigation into EA regarding Battlefield 4

R

Rösti

Unconfirmed Member
Not much is said about the statements mentioned, but all such can be found on EA's IR page if anyone is interested. Here's the press release anyway:

ATLANTA--(BUSINESS WIRE)--Holzer Holzer & Fistel, LLC is investigating whether Electronic Arts, Inc. (“EA” or the “Company”) (NYSE: EA) and/or certain of its officers complied with the federal securities laws between July 24, 2013 and December 4, 2013. Specifically, the investigation focuses on statements issued during that time regarding the development and sales of the Company’s Battlefield 4 video game and the game’s impact on EA’s revenue and projects moving forward.

If you purchased EA common stock between July 24, 2013 and December 4, 2013 and suffered losses on that investment, you are encouraged to contact Holzer Holzer & Fistel, LLC attorney Marshall P. Dees, Esq. via email at mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832 regarding your legal rights.
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Source: http://www.businesswire.com/news/ho...stor-Alert-Holzer-Holzer-Fistel-LLC-Announces

Last year the same firm investigated THQ regarding securities violations on the uDraw game tablet, as discussed here. I do not know how that investigation went, but perhaps what H H & F found was a contributing factor to THQ's downfall. What they will find at EA, apart from exceptionable customer service, we can only speculate in; but it could get ugly.
 
S

SolidSnakex

Member
BY2K said:
This could get ugly REEEAAAAL bad.
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And it should. There's no way in hell that Battlefield 4 should've ever made its way to store shelves in the shape it's in. It makes Bethesda RPG's look like something developed by Nintendo in terms of polish.
 
P

Pastry

Banned
I bet the Holzers bought PS4s and were pissed that they couldn't play conquest, Fistel is an MS gamer and didn't believe it until he bought BF4 and found out the game was borked on X1 also. Then they were like fuck it we're lawyers let's investigate this shit.
 
E

Eusis

Member
SolidSnakex said:
And it should. There's no way in hell that Battlefield 4 should've ever made its way to store shelves in the shape it's in. It makes Bethesda RPG's look like something developed by Nintendo in terms of polish.
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Yeah, you could reasonably enjoy Bethesda games for quite awhile before anything very serious came up (although in the case of the PS3 it was basically a guarantee), but it seemed BF4 just crashed all the time on everything. The fuck?
 
E

elrechazado

Banned
This sounds more impressive than it is if you know a bit about how shareholder lawsuits work. This happens across all industries - firms put out press releases announcing "investigations" in hopes of identifying shareholders who are interested in playing along as plaintiffs, and then hope for quick settlements.

It happens dozens of times a day across many industries, (take a look at any bank acquisition for example) and is the corporate lawsuit version of the mesothelioma/asbestos commercials you see on daytime tv. You will often find 10-15 firms issuing these "investigation" press releases.

Iow - not really news in the sense it might appear to laymen on first seeing it.
 
B

BY2K

Membero Americo
I've never actually experienced a single crash or major issue on BF4 PC. Got it on day one, too.

Mind you, it's been a few weeks since I've played. Maybe I'll try and see how it is today.
 
R

RaikuHebi

Banned
It's over, period. EA lost their last ace, and that's the end of their next-gen hopes and dreams.

It's not hyperbole, it's not fanboy drivel. It is LITERALLY it for EA. EA has nothing left, nothing they can reveal tomorrow would fix the hole now created. There is no reason left for any one, hardcore or casual, to substantively invest in an EA game. Except if they want to play Battlefront. Which will also be published by Sony at some point.

The age of EA is done.
 
A

Amir0x

Banned
SolidSnakex said:
And it should. There's no way in hell that Battlefield 4 should've ever made its way to store shelves in the shape it's in. It makes Bethesda RPG's look like something developed by Nintendo in terms of polish.
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Yup. Not only did EA harm the Battlefield brand, but they insulted all the customers who purchased it on day one.

EA is truly one of the worst videogame companies in the world.
 
S

SolidSnakex

Member
Eusis said:
Yeah, you could reasonably enjoy the game for quite awhile before anything very serious came up (although in the case of the PS3 it was basically a guarantee), but it seemed BF4 just crashed all the time on everything. The fuck?
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Yeah, they rushed it out the gate because they couldn't let CoD get the upper hand in the next-gen race. And the end result is that they've heavily damaged the Battlefield name.
 
N

Nemo

Will Eat Your Children
What statements did they make in that period of time? Did they lie about the development state it was in (which is a violation towards investors?) and lie about sale numbers? I didn't even know that was punishable, guess being an investor does have some benefits when it comes to losing out stock value
 
L

LCGeek

formerly sane
Thank you

BF4 and certain aspects are joke.

Seriously EA you can't make a real server browser in game, its 2013 it's not hard especially when valve has the best version you can rip off. The glitches, the crashes, and netcode as well are that of something that belongs to a game in the beta stages.

I like the game but certain aspects are just downright bad and not worth what they are asking for it.
 
V

Visualante2

Member
July 24th was the investors call for EA.

"I think we're well positioned versus our competition in this segment. And our 50 million target, which is what we ended up and what we currently have at Battlefield 3 feels very achievable. So we're feeling good there." It's not quite clear what "50 million" refers to
OXM

Did BF4 not meet expectations? Maybe it's about delaying the DLC to fix known bugs
 
R

Riki

Member
They don't even need to win the "Worst Company In America" now. They'll just get completely turned inside out over bad book keeping.
 
D

Deadbeat

Banned
RaikuHebi said:
stuff.
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I know you are posting this to be funny or whatever, but Amirox's post was assuming that FF13 was going to be a good game. It wasnt. BF4 is a good game underneath the layer of bugs and glitches. Its just not worth it for BF4 to bother. Its too broken.
 
Dr. Kitty Muffins

Dr. Kitty Muffins

Member
I actually find BF4 to be better than the latest Call of Duty in multi-player. I hope this lawsuit doesn't affect my ability to play the game some day.
 
D

Dysun

Member
Besides the first week BF4 has been very playable on PS4. Sucks to join as a group, a crash here and there, and the sound cutting out but I play for hours every day. /shrug
 
R

RaikuHebi

Banned
Deadbeat said:
I know you are posting this to be funny or whatever, but Amirox's post was assuming that FF13 was going to be a good game. It wasnt. BF4 is a good game underneath the layer of bugs and glitches. Its just not worth it for BF4 to bother. Its too broken.
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Even on PC?
 
P

pwack

Member
This sort of thing happens all the time in industries other than video games. The firm likely has no inside information, and almost certainly knows less about the goings on inside EA than the average GAFer.
 
P

pwack

Member
Pain said:
So EA lied about BF4 sales and/or development? That's what I understand from this statement.
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No. The announcement means some plaintiff law firm THINKS EA may have lied in a statement, but doesn't yet have enough information to file a complaint, much less prove anything.
 
S

sflufan

Banned
Pain said:
So EA lied about BF4 sales and/or development? That's what I understand from this statement.
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Well, what they are investigating is whether EA knowingly misled investors by basing its revenue projects on a product that they knew had significant issues (BF4).
 
E

elrechazado

Banned
pwack said:
This sort of thing happens all the time in industries other than video games. The firm likely has no inside information, and almost certainly knows less about the goings on inside EA than the average GAFer.
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People seem to be ignoring our posts on this.
 
H

Hanmik

Member
http://www.businesswire.com/news/ho...stor-Alert-Holzer-Holzer-Fistel-LLC-Announces

ATLANTA--(BUSINESS WIRE)--Holzer Holzer & Fistel, LLC is investigating whether Electronic Arts, Inc. (“EA” or the “Company”) (NYSE: EA) and/or certain of its officers complied with the federal securities laws between July 24, 2013 and December 4, 2013. Specifically, the investigation focuses on statements issued during that time regarding the development and sales of the Company’s Battlefield 4 video game and the game’s impact on EA’s revenue and projects moving forward.

If you purchased EA common stock between July 24, 2013 and December 4, 2013 and suffered losses on that investment, you are encouraged to contact Holzer Holzer & Fistel, LLC attorney Marshall P. Dees, Esq. via email at mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832 regarding your legal rights.

Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Corey D. Holzer is the attorney responsible for its content.
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poor EA and Dice.. this could be fun..
 
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