Porn for EA haters

[sidereal]

Apparently shareholders don't like it when their securities tank, so EA is being hit with a swarm  of shareholder lawsuits following their 'oopsie' profit warning.

Burn, motherfucker, burn.

[Paelos]

I dont know what they can sue over. They don't really have much of a case for market conditions limiting sales.

[shiznitz]

The lawsuit is about the fact that senior executives sold stock a few weeks before the profit warning. An argument can be made they knew and therefore benefitted illegally. However, these cases never go anywhere. Public companies have narrow windows in which executives are allowed to sell - windows approved by the lawyers. The stock sales in question happened in during one of these windows.  Employees need opportunities to sell stock and these windows of opportunity are vetted thoroughly.

[Zane0]

I find it funny when they say that Halo 2 and WoW were "unexpectedly strong competition".  Yeah, those games certainly came out of nowhere taking everyone by surprise alright.

Idiots.

[sinij]

Idiots.

What about EA ever suggested otherwise?

[Jain Zar]

Back in the old 5 1/4 disk album days the were quite the anti stupid.
But if you mean since at least the Playstation era?  I don't have that much time in the day to list EA's stupidity.

[HaemishM]

I dont know what they can sue over. They don't really have much of a case for market conditions limiting sales.

I think they can sue because EA put out a wildly optimistic projection of profits after the 4th quarter holiday season, then came back with the actuals that said their earlier projections were a fucking travesty. They erred in regards to the truth, or something.

The investors are saying EA knew that the 4th quarter was shitty, and yet still said there would be good profits.

[Paelos]

I dont know what they can sue over. They don't really have much of a case for market conditions limiting sales.

I think they can sue because EA put out a wildly optimistic projection of profits after the 4th quarter holiday season, then came back with the actuals that said their earlier projections were a fucking travesty. They erred in regards to the truth, or something.

The investors are saying EA knew that the 4th quarter was shitty, and yet still said there would be good profits.

They better have a whole lot of memos or analysis to back up that accusation, because that's a he/she said case otherwise.

[Mortriden]

In the post-Enron climate we still have, sometimes that's all they really need.  If it even looks like some not-so-clean shit was going on then people will start crawling all over every transaction that they have made. 

[Paelos]

In the post-Enron climate we still have, sometimes that's all they really need.  If it even looks like some not-so-clean shit was going on then people will start crawling all over every transaction that they have made. 

Speaking as an accountant who has helped prep documents for the advent of the Sarbaines-Oxley conversion, I can tell with all honesty that the documents will exist if there was any wrongdoing or misrepresentation. He/she said won't fly if they don't exist.