Shareholder Displeased with JAMDAT-EA Deal
A lawsuit has been filed to halt the acquisition
The announced buyout of JAMDAT Mobile by Electronic Arts reported last week came as somewhat of a shock to the video game industry, as North America's largest games developer acquired what would no doubt be a huge asset to its ever-growing mobile sector. With each respective company now happily looking towards the future with bright prospects, there is one individual who does not share in the enthusiasm.
According to an article released today on Reuters, a JAMDAT shareholder by the name of Elliott Fox has filed a class action lawsuit to halt the $680 million acquisition. Displeased with the current offer, Fox is of the belief that JAMDAT could have received a much higher amount in a buyout had it considered other options and shopped itself around more.
The Los Angeles Superior Court is handling the lawsuit. We'll have more details on the matter as they surface.