'Cyberpunk 2077' investors file lawsuit against developer CD Projekt
The year 2020 has been really bad for CD Projekt, the Polish video game developer. After their latest product, Cyberpunk 2077, was dropped by Sony from the PlayStation store, investors are now up against them. News has it they have slapped a lawsuit against CD Projekt for allegedly making misleading statements about the game. The same was announced recently by a law firm.
Rosen Law Firm, New York-based company, filed the lawsuit
This is a class-action lawsuit filed by Rosen Law Firm, New York, over the damages incurred by entities buying securities in CD Projekt between January 16, 2020, and December 17, 2020. The firm's press release reads: "Defendants' statements about its business, operations, and prospects, were materially false and misleading... When the true details entered the market, the lawsuit claims that investors suffered damages."
Lawsuit contradicts performance claims made by CD Projekt CEO
The lawsuit claims that the game was not functioning well in the latest versions of the X-Box and PlayStation gaming consoles because of several bugs. That is contrary to the previous claims made by CD Projekt CEO Adam Kaciński during an investor call in November. Kaciński said, "We believe that the game is performing great on every platform...but not every platform should be great."
CDPR apologized, promised bug fixes, caused damages to investors
That claim fell flat due to the bugs creating hilarious and offsetting gaming experiences. This was followed by the PlayStation store removing Cyberpunk 2077 and Sony, Microsoft, and CD Projekt offering refunds to disgruntled buyers. CDPR also declared that bug fixes and updates are in the works. That, in turn, caused the game developer pecuniary and reputational harm, allegedly causing damages to investors.
CDPR to defend itself 'vigorously' against the lawsuit
Authorities in the gaming development company said they will defend themselves "vigorously" against the lawsuit filed in a Los Angeles court. They believe that the company didn't commit anything violating federal law while admitting the fact that the game didn't release well. CD Projekt RED claimed that despite the glitches infuriating many, the company still sold 13 million copies, including those claiming refunds.