CD Projekt in settlement talks with investors over Cyberpunk 2077 class-action suit
The parties involved have entered into negotiations.
CD Projekt has entered into negotiations concerning a potential settlement with the investors that filed a class-action lawsuit against the company over the less-than-stellar launch of Cyberpunk 2077.
According to court documents, if the settlement is agreeable to both parties, the next step is to seek approval by the Court (thanks, VGC).
“The decision on whether to approve the settlement and permit its implementation shall be issued by the Court once certain additional formal conditions are satisfied," reads the filing.
“It should also be noted that entering into negotiations concerning a potential settlement should in no way be construed as acceptance by the Company or members of its Management Board of any allegations expressed in the plaintiffs’ court filings.”
The first class-action suit against CD Projekt came about back in January, and three more were filed against the company leading all to be consolidated. The suit was brought against the company over investors feeling CDP had misrepresented the state of Cyberpunk 2077 in order to receive financial benefits.
The lawsuit alleged that CDP "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 cited Sony's decision to pull the game off the PlayStation Store and Microsoft's full refund policy as proof that Cyberpunk 2077 wasn't ready for primetime.
CD Projekt said when the first lawsuit was filed it would vigorously defend itself in any proceedings against claims it misled shareholders or released an inferior product so as not to lose money.
The thrice-delayed game was released in December 2020 with a host of technical issues and was just a right mess of a game on consoles. Problems ranged anywhere from framerate issues to rendering and visual bugs, not to mention crashes, scripting issues, and more.
CDP promised it would get the game to a more playable state with the release of patches in January and February 2021. The latter patch was delayed to March, and it was followed by patches in June, August, and September. There have also been a number of hotfixes released.
The PS5 and Xbox Series X/S versions of the title, expected to be released in 2021, will now release sometime during first quarter of 2022. CDP said the delay came as a recommendation from the teams supervising development on top of "keeping in mind" the "lessons" it learned over the course of the past year.