CD Projekt has responded to the first lawsuit filed against it for apparently misleading investors about the state of Cyberpunk 2077.
After early mumblings that some CD Projekt investors may seek legal action against the company for allegedly misrepresenting the state of Cyberpunk 2077, one such lawsuit has officially been filed.
The New York-based Rosen Law Firm, filed a class action lawsuit against CD Projekt on December 24. The suit was filed on behalf of investors who purchased CD Projekt stock in the US between January 16 and December 17, 2020, with the aim of recovering damages for them under the the federal securities laws.
The lawsuit alleges 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”, citing Sony’s recent decision to pull the game off the PlayStation Store and Microsoft’s full refund policy as major consequences for CDPR’s actions.
“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,” the filing continues.
One day later, CD Projekt confirmed that it had received notice of the lawsuit, and said in an official statement that it intends to vigorously defend itself.
“The Company will undertake vigorous action to defend itself against any such claims,” said CD Projekt, adding that the suit “does not specify the quantity of damages sought.”
Despite the controversy, Cyberpunk 2077 managed to so far sell over 13 million copies, a fact CD Projekt used to placate investors. Away from its launch troubles, CD Projekt Red teams continue to work hard on patches, the first of which is due out this month, with another one to follow in February.