So, the rulings in in regards to EA‘s shareholders suing EA. They didn’t win. Well, not yet anyway.
The shareholders claimed that Battlefield 4‘s sub-par launch and flakey online performance directly harmed EA‘s share price and worst yet, that the senior executives knew the game was not ready for release and made “false and misleading assurances” about its launch ready quality.
Judge Susan Illston of U.S. District Court for the Northern District of California said that the statements made by senior executives were merely “a vague statement of corporate optimism” and not “materially false and misleading statements” that the shareholders alleged.
Judge Illston also dismissed investors’ claims of intentional or deliberate recklessness, finding that “the complaint fails to adequately allege falsity and scienter for reasons articulated by defendants.”
Lead plaintiffs Ryan Kelly and Louis Mastro have until November 3 to fix or update their complaint, otherwise EA will achieve a total dismissal of the lawsuit.