Tag Archives: investor

EA Sued By Investors In Class Action Lawsuit For False Advertising Battlefield 4, Financial Fraud, Stock Manipulation, Embezzlement

Over the past couple of weeks RealGamerNewz has been exhaustively reviewing legal documentation from the parties Robbins Geller as well as the original investigation that was brought forward by Holzer Holzer and Fistel. Judging by documentation provided to investors as well as the press, we feel confident now to speak on our own (not just repeating what others have said) in saying that it’s exactly what it looks like. EA executives are being held responsible for crimes that they have indeed committed against the investors of their company and have also resulted in hurting the video game industry as well as fans of the Battlefield series. There’s more to it than is being currently reported by mainstream media though, as of course RealGamerNewz is always willing to speak what others will leave out.

First let’s cover the basics…

  • “Plaintiff seeks to recover damages on behalf of all purchasers of Electronic Arts common stock during the Class Period (the “Class”)”

This is the statement that reads on the EA lawsuit and begins a myriad of reasons. In common language we can describe them like this – EA execs made statements that raised the price of Electronic Arts stock which they allegedly knew to not be true and then sold their own stocks while at a record high. Here’s a small image major mainstream press has taken of the second half of court documents which are available to all (here) and break down how much money they essentially embezzled from their own company by doing this type of stock manipulation and financial fraud.

Now for the stuff other sites and magazines aren’t reporting  – on top of this, EA also mentioned that with Battlefield 4 they were the most pre-ordered next-generation game which we personally found extremely doubtful even though the Battlefield series is viewed as a fan favorite – it has never been the best seller in the FPS genre. Approximately a day after making this statement though charts were released showing Call of Duty: Ghosts as the clear winner of such a title forcing us to believe that EA lied about this as well. If not lies, there must have been a twist on the truth so extreme and far-reaching that it would likely only be labelled fraud in the court of law.

The next complaint is that the game suffered too many bugs at launch causing the Delay of BF4 DLC and other projects from DICE / EA Games which will inevitably result in less money for investors (not to mention BF4 failed to meet sales expectations and pre-sale claims). We have it on good authority (from un-named sources within DICE) that EA Games refused the development firm’s plea for a next-gen Beta due to agreements and contracts with Sony and Microsoft related to launch-day sales. Beyond that, DICE has come on record in the public as saying that EA Games is to blame for issues of the game crashing. Could it be that these issues are the result of DRM being removed from the title post-haste since it became such a taboo word when Sony defamed the business practice at PS4’s reveal? We aren’t entirely sure, but DICE says EA is at fault for the bugs and that they couldn’t fix them any faster if they wanted to.

Stay tuned for more on this developing story as it becomes available to us, and don’t believe everything that you read either for or against EA in this situation since most journalists do not read all of the legal documents. This has taken us a long time but is very beneficial as we discovered a lot of not-well-known details during the Call of Duty lawsuit fiasco that happened between Activision and COD’s creators.

Editor’s Note: RealGamerNewZ has moved web servers, some older posts can no longer be commented on and have been preserved without their images. Thank you for your understanding in this matter. This article was written by Mitch Walters on 20131220 and was last modified on 20131220 .

3DS Sold 1 Million Units in 3 Months While Wii U Sales Reach Ridiculously Slow Pace

Every company files what are known as Fiscal Reports. Every so often, Nintendo lets its shareholders and investors in general as well as the industry at large know what their revenues, units sold, and losses are looking like. This is a necessary part of most businesses as enormous as the video game development, publishing, and manufacturing giant known best for its creation of a golden age with the NES and SNES systems of ‘yester-year’ or its latest cultural phenomenon the Nintendo Wii.

According to Nintendo’s latest Fiscal Report, while the Nintendo 3DS has managed to move over 1 million units for the last 3 months, the Nintendo Wii U home console is failing to meet sales expectations set on it by the Japan-based company who has listed just 160,000 units sold in the same 3 month period.

Europe in particular has only seen 10,000 Nintendo Wii U sales in the past 3 months, which is troubling to say the least, with some stores in the region refusing to continue buying inventory from Nintendo. You can read the full financial report HERE which has been released by Nintendo detailing their entire breakdown of profits, revenues, and losses, as well as what’s going to happen within the company as a result to this failure to meet investors expectations and the company’s own projected goals.

This extreme lack of attention from a number of markets comes as a stark contrast to the Wii U’s strong sales start. Despite many misconceived reports, the system had begun with a momentum not seen before with last generation’s home console sales rates. This led some to believe that the Wii U could propel forward at a rapid rate. However, most criticisms from both the business and media side of things have come down on Nintendo’s lack of exclusive first-party titles, many of which have been teased but not released.

Animal Crossing: New Leaf is cited as the main system seller for the Nintendo 3DS which is still keeping good old Ninty happy for the time being, however it is unclear if Pikmin 3 and Mario & Luigi Dream Team Bros. will be able to get the high definition Wii U into people’s homes. Some of the more creative and enjoyable titles out right now for the Wii U include Game & Wario as well as Lego City: Undercover but most gamers are holding on to their money until they see something Zelda-related pop up for the console. It could be time for Nintendo to reveal a renewed push for the system in terms of letting the public know what it is capable of technologically and why we don’t just wish we had one but feel the need to get one immediately.

Editor’s Note: RealGamerNewZ has moved web servers, some older posts can no longer be commented on and have been preserved without their images. Thank you for your understanding in this matter. This article was written by Jon Ireson on 20130731 and was last modified on 20130731 .

PlayStation 4 Trailer Reached an Audience of Over 26 Million Viewers in Under 30 Days

PlayStation 4’s trailer that was livestreamed at the PlayStation 4 reveal event by Sony recently. The trailer for the PlayStation 4 was also syndicated on YouTube and many other platforms where it has reached an overall audience of over 26 million viewers in under a month’s span of time. Sony announced this accomplishment for their PlayStation 4 show and the overall trailer and upcoming announcements for the Sony PS4 continue to quell the millions.

The Nintendo Wii, PlayStation  3, and Xbox 360 continue to compete for the crown as the current generation’s transition to the next gen happens and the current gen comes to a close as the reveal for next-generation platforms has begun with the release of Nintendo Wii U and the announcement of the PlayStation 4.

Editor’s Note: RealGamerNewZ has moved web servers, some older posts can no longer be commented on and have been preserved without their images. Thank you for your understanding in this matter. This article was written by Jon Ireson on 20130324 and was last modified on 20130324 .