Image: CD PROJEKT RED

It appears that CD PROJEKT’s legal troubles have officially begun. New York-based Rosen Law Firm has filed a class action complaint in a California court on behalf of investors seeking to recover damages stemming from Cyberpunk 2077’s controversial and bug-ridden launch, alleging that the company released “materially false and misleading statements” over the course of its development to hide the game’s broken state.

The complaint echoes a lot of what’s been reported over the last few weeks, such as the assertion that CD PROJEKT knowingly released Cyberpunk 2077’s PS4 and Xbox One versions in a “virtually unplayable” condition without any real warning. It also quotes President and Joint CEO Adam Kiciński’s now-infamous conference call, in which he admitted CD PROJEKT “underestimated” how troubled the console editions were.

“Lawyers are seeking an unnamed amount of damages for investors,” Polygon wrote in its coverage. “In the news release published Thursday, Rosen Law Firm — which specializes in ‘global investor rights’ — asked investors interested in joining the litigation to contact the firm.”

Rosen Law Firm’s class action complaint follows Wolf Haldenstein Adler Freeman & Herz LLP’s announcement regarding a potential securities class action lawsuit against CD PROJEKT earlier this week, which similarly alleges “materially misleading information” that confused both shareholders and the public.

“Sony announced on Friday that it was pulling [Cyberpunk 2077] from its PlayStation Store and offering full refunds to players following a wave of complaints about the long-awaited title,” the firm’s release noted. “The Market Insider report also quoted the Company’s co-CEO stating during an analyst call that ‘[a]fter three delays, we were too focused on releasing the game,’ and ‘[w]e ignored signals about the need for additional time to refine the game on the base last-gen consoles.'”

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13 Comments

  1. Legal piling-on, to what end.

    The game is a genuine retail success and will only get better.

    The only ones who will benefit are the lawyers.

  2. [QUOTE=”magoo, post: 26135, member: 244″]
    Legal piling-on, to what end.
    The game is a genuine retail success and will only get better.
    The only ones who will benefit are the lawyers.
    [/QUOTE]
    Not on console.
    Sony wont even sell it now.

  3. [QUOTE=”AntiQuark, post: 26145, member: 83″]
    Not on console.
    Sony wont even sell it now.
    [/QUOTE]

    Yea… pardon me while I sob great big corcodile tears over the console people not getting a game tuned for their shit hardware.

    I STILL don’t understand the issue here. Perhaps console players are not used to getting beta versions as full releases? Fucking suck it up princess.

  4. [QUOTE=”Grimlakin, post: 26149, member: 215″]
    Yea… pardon me while I sob great big corcodile tears over the console people not getting a game tuned for their **** hardware.

    I STILL don’t understand the issue here. Perhaps console players are not used to getting beta versions as full releases? ****ing suck it up princess.
    [/QUOTE]
    They did not let console players see the title before release at all. Thats the big gripe I think.
    Only PC versions were allowed to be shown prior to release and then they had that steaming turd of a console release. Honestly I get the anger and I wish they had just released the title on PC and next gen consoles. But I do not get the lawsuit, they offered refunds….

  5. [QUOTE=”Eduardo_Domingot, post: 26196, member: 246″]
    They did not let console players see the title before release at all. Thats the big gripe I think.
    Only PC versions were allowed to be shown prior to release and then they had that steaming turd of a console release. Honestly I get the anger and I wish they had just released the title on PC and next gen consoles. [B][U]But I do not get the lawsuit, they offered refunds….[/U][/B]
    [/QUOTE]

    ‘murica.

  6. [QUOTE=”Eduardo_Domingot, post: 26196, member: 246″]
    But I do not get the lawsuit, they offered refunds….
    [/QUOTE]

    The refunds are for the gamers but not shareholders. If they offered buybacks of the shares that would count as refund to shareholders.

    These suits are on behalf of shareholders. Anyone in US who purchased an ADR in the last 11 months

  7. I don’t understand how that would work. An investment is a risk with no assurance. If inwere cdpr I would buy back those shares at cost. Fix the game and ride the returns.

  8. [QUOTE=”Marees, post: 26228, member: 1536″]
    The refunds are for the gamers but not shareholders. If they offered buybacks of the shares that would count as refund to shareholders.

    These suits are on behalf of shareholders. Anyone in US who purchased an ADR in the last 11 months
    [/QUOTE]
    Gotcha yeah not following this too closely. So the shareholders are suing which makes more sense to me. Thought it was a class action by gamers for a moment lol.

  9. [QUOTE=”Grimlakin, post: 26232, member: 215″]
    I don’t understand how that would work. An investment is a risk with no assurance. If inwere cdpr I would buy back those shares at cost. Fix the game and ride the returns.
    [/QUOTE]
    Investors in a company do get specific protections though. The company has to operate with the interest of the shareholders in mind – if it can be proved the company did otherwise the company is responsible for damages.

    This is why so many Publicly traded companies suck, particularly gaming ones – they make decisions based on shareholder benefit, not for the benefit of consumers, customers, etc. Those interests aren’t always aligned.

  10. Looking at CDPR’s stock prices for the last year. When the PR was going strong CDPR was trading at over 400 (their currency) a share. But in January of 2020 it was basically at the same place it is now. So investors that bought in when the PR was going strong are filing suite. I don’t think they have a leg to stand on. Not to mention in that country CDPR at least WAS the most valuable game maker above even Ubisoft.

  11. . . .on that note. . . .as one of the few games whose DLSS works on 32:9 resolutions I’m going to play some now. I feel sorry for those with an older console and that CDPR didn’t officially release a trailer for them so they’d know what to expect, but otherwise, this is getting to feel overexaggerated.

  12. [QUOTE=”Grimlakin, post: 26276, member: 215″]
    Looking at CDPR’s stock prices for the last year. When the PR was going strong CDPR was trading at over 400 (their currency) a share. But in January of 2020 it was basically at the same place it is now. So investors that bought in when the PR was going strong are filing suite. I don’t think they have a leg to stand on. Not to mention in that country CDPR at least WAS the most valuable game maker above even Ubisoft.
    [/QUOTE]
    Yeah, the class action faces an uphill battle – you have to prove CDPR intentionally misled, and that caused financial harm. Neither are easy to prove in California, where the suit was filed. However, I strongly suspect (as was pointed out elsewhere, I’m highly cynical of US legal system) — this lawsuit wasn’t actually filed with the intention of winning. If the lawyers can finagle out a settlement from CDPR to just make it go away, they would he happy to write their own paycheck and CDPR would probably be happy to cut a reasonable check to make it all disappear rather than dragging out a lot of dirty laundry through the court.

  13. [QUOTE=”AntiQuark, post: 26145, member: 83″]
    Not on console.
    Sony wont even sell it now.
    [/QUOTE]
    The game runs fine on Gen 9 consoles. CDP should have just abandoned the idea of trying to get the game running on Gen 8. More than half of the 13 million copies sold were on PC, anyway.

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