Cyberpunk developer to defend itself against class action suit by investor

28 Dec, 2020 Business News 673 0 Comment

Cyberpunk 2077 maker CD Projekt SA is set to defend itself against a lawsuit filed on grounds of misleading investors, causing massive losses and resulting in a fall in share prices.

The makers of Cyberpunk 2077 seem to be exhilarated by the game hitting the 13 million sales mark this month, and have decided to defend it against a lawsuit filed by a Los-Angeles-based investor regarding the botched up launch of the much-awaited and long-in-the-pipeline game.

Hurried launch costs investors

The suit was filed by investor Andrew Trampe in a federal court on the lines that Cyberpunk 2077 makers CD Projekt SA had apparently duped and misled investors of the error-loaded game, which caused shares to go for a massive plunge after its release earlier this month. Adding insult to injury, console major Sony Corp. removed Cyberpunk 2077 from the Playstation store, while Sony, Microsoft Corp. and the company were forced to offer full refunds for the game.

As of now, the quantity of damages has not been specified in the Los Angeles court-listed complaint, as per reports. The company’s American Depositary Receipts fell 25% in the three days after Cyberpunk 2077 was released on the 10th of this month. They further fell by 16% after Sony removed the game from its Playstation store on December 18th.

Maker to safeguard interests

CD Projekt SA, the Polish identity responsible for developing Cyberpunk 2077, has clearly stated that it will vehemently defend itself against the lawsuit and while it hasn’t come out with further disclosures regarding the same, it is clear that investors are not happy with the manner in which the game reached customers.

The studio’s sales figures don’t include information about the scale of refunds but provides the net sales number. The sales figure amounts to around half of the 12-month sales forecast in a Bloomberg survey of nine analysts that was conducted prior to Sony removing the game from its store. The game had more than eight million pre-orders before its December 10 debut, which triggered an online outcry from players frustrated with its poor performance and a plunge in CD Projekt’s share price.

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Anwesh Koley

POSTS BY Anwesh Koley

Anwesh has been a journalist for more than a decade and has worked across myriad sectors ranging from automotive, power, energy, finance, and SMEs. He is currently responsible for churning out relevant and exciting content for Ultimate Battle News.

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