The New York-based “Rosen Law Firm” and “Wolf Haldenstein Adler Freeman & Herz LLP” have filed a class-action lawsuit against CDPR, the developer of Cyberpunk 2077, on the grounds of misleading claims and false marketing. The lawsuit has been filed “on behalf of purchasers of the securities of CD Projekt S.A. (OTC: OTGLY, OTGLF) between January 16, 2020, and December 17, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for CD Projekt investors under the federal securities laws.“
The law firms are urging the Investors who had a stake in CD Projekt Red, via stocks, bonds or securities, to contact them and make an appeal.
The four major points that are raised by these lawsuits agaisnt CCPR are as follows:
(1) Cyberpunk 2077 was virtually unplayable on the current-generation Xbox or Playstation systems due to an enormous number of bugs;
(2) As a result, Sony would remove Cyberpunk 2077 from the Playstation store, and Sony, Microsoft and CD Projekt would be forced to offer full refunds for the game;
(3) Consequently, CD Projekt would suffer reputational and pecuniary harm; and
(4) As a result, defendants’ 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 against CDPR claims that investors suffered damages.
CD Projekt Red never showed the performace on the current gen-versions to it’s investors. According to CDPR, the performance on last-gen consoles was just a matter of optimizations and, although they were working on it till the last minute, they couldn’t properly optimize the game until it was out. Subsequently, reviewers like us never recieved a last-gen copy of the game until the release itself. Hence, the media did not have a chance to review the game properly on last-gen consoles until it was too late.
Subsequently, the game was promptly removed by Sony from the Playstation Store, which resulted in huge losses for CD Projekt Red.
It’s still unclear how these lawsuits will turn out, but they have certainly tarnished the pristine image of CD Projekt Red as a developer. Cyberpunk 2077 was a rushed game and the devs are suffering from its consequences. Their statements towards their investors do sound quite fishy, but as a CDPR loyalist, I’d like to give them a chance to prove themselves and reclaim their throne. And given that they’re constantly churning out hotfixes and updates, Cyberpunk 2077 may be their holy grail on next-gen consoles and PC. However, the hopes Cyberpunk 2077 running smoothly on last-gen consoles are bleak.
