After some speculation that a class-action lawsuit was going to be filed against CD Projekt Red over the release of Cyberpunk 2077, it became official last week. As of now, only one lawsuit has been officially filed, but CD Projekt Red looks to be up against a total of four class-action lawsuits. No other lawsuit has been filed from the other three law firms yet. Now, CD Projekt Red has responded to the lawsuit.
The lawsuit that has been filed states that CD Projekt Red “made false and/or misleading statements and/or failed to disclose that: (1) Cyberpunk 2077 was virtually unplayable on the current-generation Xbox or PlayStation system due to an enormous number of bugs; (2) as 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.”
The management board of CD Projekt Red released a statement acknowledging that “it received confirmation from a law firm cooperating with the Company that a civil class action lawsuit had been filed in the United States District Court for the Central District of California by a law firm acting on behalf of a group of holders of securities traded in the USA under the ticker symbols “OTGLY” and “OTGLF” and based on Company shares. The plaintiffs call for the court to adjudicate whether the actions undertaken by the Company and members of its Management Board in connection with the release of Cyberpunk 2077 constituted a violation of federal laws, i.a. by misleading investors and, consequently causing them to incur damages.”
CD Projekt concludes the statement by stating that “the complaint does not specify the quantity of damages sought” and that they “will undertake vigorous action to defend itself against any such claims. Meanwhile, the developers are still working on fixing the game with updates. The most recent fixed major issue involving corrupt save files that became unusable.