Cyberpunk 2077 Lawsuit Filed On Behalf of Investors

Cyberpunk 2077 lawsuit has been filed by New York-based firm Rosen Law Firm on behalf of the investors who purchased CD Projekt Red's stock between Jan. 16 to Dec. 17, 2020. The class-action suit alleges CD Projekt Red to have made "false and/or misleading" statements about Cyberpunk 2077 to hype the game and its stock price for months with a series of overly positive statements claiming that the game was "complete and playable" in Jan. 2020. Cyberpunk 2077 was released on Dec. 10 with instant complaints and backlashes from the community due to multiple bugs and issues plaguing the game.

Cyberpunk 2077 Lawsuit Filed On Behalf of Investors

The lawsuit states that "[Investors] would not have purchased the Company's securities at the artificially inflated prices that they did, or at all," if they were more informed of the game's buggy state. On Dec. 14, CD Projekt Red released an apology and promised to fix bugs and crashes in the game. The developer's shares plummeted 40% since early December

Furthermore, according to the lawsuit, CD Projekt Red "failed to disclose that: (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 claims that investors suffered damages."

Despite the rocky launch, CD Projekt Red said that it has sold more than 13 million copies of Cyberpunk 2077 as of Dec. 20. The PC version of the game received generally positive reviews. The development cost was fully recouped based on pre-order sales alone. The console versions, on the other hand, had multiple technical issues and bugs, with some players reporting that these versions were unplayable. On Dec. 18, the game was removed from the PlayStation online store. The latest two hotfixes 1.05 and 1.06 gained generally positive receptions in the community.