Holzer Holzer & Fistel, an Atlanta-based law firm that "dedicates its practice to vigorous representation of shareholders and investors," has its sights set on Electronic Arts over how the publicly traded company has handled Battlefield 4.
The firm released a statement — which doubles as a bit of PR — confirming an "investigation" has begun regarding whether EA "complied with federal securities laws" when making statements about Battlefield 4. Though no formal suit has been issued yet, the investigation focuses on statements issued between July 24, 2013 and December 4, 2013 "regarding the development and sales of Battlefield 4 and the game's impact on EA's revenue and projects moving forward."
Since Battlefield 4's launch in October, the game has been plagued with a number of bugs, glitches, and issues causing crashes on all platforms. DICE has released numerous patches over the weeks, but problems are still persisting — and they are troublesome enough to have caused Electronic Arts to come out recently and say that no new expansions or DLC would be created until all of the issues are solved.
Though the investigation doesn't specifically mention that statement, that's the most recent thing I can think of that would impact EA's future revenue and projects. Electronic Arts' stock price lost $2 the day after those postponement remarks and has dropped $4 total since November 12. Regardless of the issues surrounding Battlefield 4, EA's stock is still $5 higher than where it was at this time last year.
Maybe Holzer Holzer & Fistel is just trying to drum up some business. They urge anyone who has purchased EA common stock between the dates mentioned above to contact them.
[WSJ]
