A global investor rights law firm from New York has filed a class-action lawsuit on behalf of investors in CD Projekt SA, according to an official press release from the company.
The purpose of the lawsuit is “to recover damages for CD Projekt investors under the federal securities laws.”
Rosen Law Firm alleges that the primary reasons for the lawsuit is the Polish studio making “false and/or misleading statements” about Cyberpunk 2077’s playability on current PlayStation and Xbox systems due to bugs and glitches, as well as the removal of Cyberpunk 2077 from the PS Store, causing Microsoft and CD Projekt Red being forced to refund players, which would lead to CD Project Red suffering “ reputational and pecuniary harm”.
The suit goes on to say that the “defendants’ [CDPR] statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.” The statement further adds that once “the true details entered the market, the lawsuit claims that investors suffered damages.”
CD Projekt have kept its response brief thus far. As reported by Bloomberg, the company has stated that it intends to defend itself “vigorously against any such claims.”
It’s worth noting that at this stage, the lawsuit has only been filed in US Courts, and for it to proceed, a class must be certified. For the suit to become eligible, it will require a large number of investors with similar claims to come forward.
Cyberpunk 2077 was released December 10 and is available on PlayStation 4, Xbox One, Google Stadia, and PC. While the game can be played on PlayStation 5 and Xbox Series X/S, the next-gen upgrades are coming some time in 2021.
Last week, it was reported that Cyberpunk 2077 had sold more than 13 million copies across all platforms. Industry analyst Daniel Ahmad described the figures as “one of the largest premium game launches ever”.