Submission + - Judge says EA executives committed "puffery," not securities fraud (arstechnica.com)
DemonOnIce writes: Ars Technica reported that federal judge at San Francisco has dismissed a proposed securities fraud class action lawsuit connected to Battlefield 4 bungled rollout.
EA and several top executives were sued in December and were accused of duping investors with their public statements and concealing issues with the first-person shooter game. The suit claimed executives were painting too rosy of a picture surrounding what ultimately would be Battlefield 4's disastrous debut on various gaming consoles beginning last October, including the next-generation Xbox One.
But US District Judge Susan Illston of San Francisco said their comments about EA and the first-person shooter game were essentially protected corporate speak.
"The Court agrees with defendants that all of the purported misstatements are inactionable statements of opinion, corporate optimism, or puffery," Illston ruled Monday.
Battlefield 4 debut was disastrous, gamers complained that Battlefield 4 crashed, froze, or wouldn't ever start. DICE Studios need three months to fix the defect and caused EA shares down 6% in a single day.
EA and several top executives were sued in December and were accused of duping investors with their public statements and concealing issues with the first-person shooter game. The suit claimed executives were painting too rosy of a picture surrounding what ultimately would be Battlefield 4's disastrous debut on various gaming consoles beginning last October, including the next-generation Xbox One.
But US District Judge Susan Illston of San Francisco said their comments about EA and the first-person shooter game were essentially protected corporate speak.
"The Court agrees with defendants that all of the purported misstatements are inactionable statements of opinion, corporate optimism, or puffery," Illston ruled Monday.
Battlefield 4 debut was disastrous, gamers complained that Battlefield 4 crashed, froze, or wouldn't ever start. DICE Studios need three months to fix the defect and caused EA shares down 6% in a single day.
