OKLAHOMA CITY, April 7 – LAWFUEL – The Law News Network — On March 24, 2005, the class action lawsuit was filed in the United States District Court Northern District of
California against Electronic Arts, Inc. (Nasdaq: ERTS). The complaint
alleges violations of federal securities laws, Sections 10(b) and 20(a) of the
Securities Exchange Act of 1934 and Rule 10b-5, including allegations of
issuing a series of material misrepresentations to the market which had the
effect of artificially inflating the market price. More specifically, the
Complaint alleges that the Company failed to disclose and misrepresented the
following material adverse facts which were known to defendants or recklessly
disregarded by them: (1) that increased competition from its competitors was
eroding Electronic Arts, Inc. market share; (2) that hardware shortages were
material; (3) that Electronic Arts, Inc. continued to suffer from operating
margin compression; and (4) that as a result of the above, the Company’s
statements about its financial performance were lacking in any reasonable
basis when made. The class period is from January 25, 2005 through March 21,
2005.
Plaintiff seeks to recover damages on behalf of the Class. If you are a
member of the Class as described above, you may move the Court no later than
May 23, 2005, to serve as a lead plaintiff for the Class. However, in order
to do so, you must meet certain legal requirements pursuant to the Private
Securities Litigation Reform Act of 1995.
If you wish to discuss this action, participate in this suit, or have any
questions or concerns regarding this notice, or preservation of your rights,
please contact:
William B. Federman
FEDERMAN & SHERWOOD
120 N. Robinson, Suite 2720
Oklahoma City, OK 73102
(405) 235-1560/FAX: (405) 239-2112
mail to: wfederman@aol.com
http://www.federmanlaw.com
