Following rumors last month that CD Projekt investors are considering legal action to recover damages, a class-action lawsuit has been filed against the Polish game company for misleading its investors on the state of Cyberpunk 2077.
An unconfirmed number of investors who purchased CD Projekt stock in the United States between January 16 and December 17 last year are now suing the Polish parent company of Cyberpunk 2077 and The Witcher (via VG247) under the the federal securities laws.
The lawsuit states that CD Projekt “failed to disclose that Cyberpunk 2077 was virtually unplayable on the current-generation Xbox or Playstation systems due to an enormous number of bugs.” The lawsuit also states that “CD Projekt would suffer reputational and pecuniary harm; and 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.”
CD Projekt has officially acknowledged the class-action lawsuit and “will undertake vigorous action to defend itself against any such claims.”
Cyberpunk 2077 was released last month after being in development for more than eight years and being delayed three times. The final product was messy and half-baked particularly on last-generation consoles where the game was almost unplayable. CD Projekt Red will be bringing out two major patches in January and February to address all said issues. Based on a recent rumor though, those patches have been delayed to mid-March and further improvements will hopefully turn around the game in a No Man’s Sky-like comeback.
Despite the rocky and rather disappointing launch, Cyberpunk 2077 managed to earn back all of its expenses incurred through pre-orders alone. That covers development expenses as well as marketing and promotional expenses to date and planned until the end of 2020.
CD Projekt sold more than 8 million pre-orders across consoles and PC and has since then sold an additional 5 million copies, something the Polish company continues to reflect upon to calm down its investors. That being said, more class-action lawsuits will probably get filed by investors in the coming months as more investors begin to see red.