New York-based Rosen Law Firm has filed a class-action lawsuit against Cyberpunk 2077’s publisher CD Projekt S.A. due to its alleged violation of federal securities laws.
Announced in a press release, Rosen Law Firm is filing the class-action lawsuit on behalf of purchasers of the securities of CD Projekt S.A. between January 16, 2020 and December 17, 2020, and is seeking to “recover damages for CD Projekt investors under the federal securities laws.”
The lawsuit claims that CD Projekt has “made false and/or misleading statements” and/or failed to disclose that “Cyberpunk 2077 was virtually unplayable on the current-generation Xbox or PlayStation systems due to an enormous number of bugs.”
In response to the many issues and messy messaging surround the game’s launch, Sony removed Cyberpunk 2077 from the PS Store and Sony, Microsoft, and CD Projekt would “be forced to offer full refunds for the game.“
The lawsuit claims that, as a result of the above, “CD Projekt would suffer reputational and pecuniary harm” and that its “statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.”
This news follows a previous report that lawyers and investors in Warsaw, Poland – where CD Projekt S.A. is located – were “circling the situation” and were deciding whether or not they should take action.
Despite all these issues and CD Projekt’s stock price dropping around 29% at launch, it didn’t stop Cyberpunk 2077 from selling over 13 million copies and recouping its entire development and marketing costs with pre-orders alone.
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