CD Projekt Red Faces Lawsuit Over Cyberpunk 2077 Release

12/24/2020 - 19:57 | By: Brian Renadette
Developer
CD Projekt Red
Publisher
CD Projekt Red
Release Date
December 10, 2020
Genre
RPG
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Investors seek damages over false/misleading statements.

Cyberpunk 2077 has had a very rocky launch, but the troubles of developer and publisher CD Projekt Red aren't over yet. They are now facing a class-action lawsuit over their alleged violation of federal securities laws.

Rosen Law Firm, a New York-based firm that filed the suit in a California court, said in a press release that their suit is being filed on behalf of investors who invested in CD Projekt Red between January 16 to December 17, 2020. The suit claims that CD Projekt Red failed to disclose that the console versions of Cyberpunk 2077 were buggy and "virtually unplayable." Those following the game's post-launch may recall that Sony delisted Cyberpunk 2077 from their online store because of the drop in quality between PC versions and started offering full refunds to those who wanted them. Some of these statements, according to the lawyers, include CD Projekt CEO and joint president Adam Kiciński saying that the game was "complete and playable" when announcing the first delay back in January and that the console versions only needed optimizations.

The press release states that when Cyberpunk 2077 released and its problems became apparent, investors "suffered damages" due to an "artificially inflated" market price, which took a hefty drop the day after it released. Rosen has not provided a hard number on the damages or a lead plaintiff, but they are asking investors interested in joining the suit to fill out a form online.

Rosen Law Firm may not be the only law firm taking on CD Projekt Red. According to the Polish financial website Bankier (via gamesindustry.biz,) Warsaw-based attorney and CD Projekt investor Mikołaj Orzechowski stated that he and his team are "circling the situation" and deciding on whether they'll take action. Also, PR Newswire says that Wolf Haldenstein Adler Freeman & Herz LLP is looking into "potential securities claims" on behalf of shareholders.

 
 

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Topics | Legal
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Staff Writer

I am a graduate of Southern New Hampshire University with a major in writing and a minor in gaming. I have a passion for video games and writing. I also enjoy volunteering at my local SPCA by walking the dogs.