Two Law Firms Target CDPR Over Cyberpunk 2077 Launch
New York City’s Rosen Law Firm and Los Angeles’ The Schall Law Firm have officially filed class-action lawsuits against CD Projekt RED for the botched release of Cyberpunk 2077. The lawsuits allege that CD Projekt RED made false and misleading statements about Cyberpunk 2077 to the market in order to sell the game for a profit. Cyberpunk 2077 is available right now for Xbox One, Xbox Series X/S, PC, and Google Stadia.
“This is a class action on behalf of persons or entities who purchased or otherwise acquired publicly traded CD Projekt securities between January 16, 2020 and December 17, 2020,” claims the Rosen Law Firm court filing. “Plaintiff seeks to recover compensable damages caused by Defendants’ violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act)… The Company is liable for the acts of the Individual Defendants and its employees under the doctrine of respondeat superior and common law principles of agency because of all of the wrongful acts.”
“In connection with the acts, conduct and other wrongs alleged in this Complaint, Defendants (defined below), directly or indirectly, used the means and instrumentalities of interstate commerce, including but not limited to, the United States mail, interstate telephone communications and the facilities of the national securities exchange,” continues one of the court filings against CDPR. The lawsuits also discuss how often CD Projekt RED stated the game was complete and playable ahead of its botched release which proved its statements to be “materially false and/or misleading.”
“Cyberpunk 2077 was virtually unplayable on the current-generation Xbox or Playstation systems due to an enormous amount of bugs. As a result, Sony would remove Cyberpunk 2077 from the Playstation Store, Microsoft and the Company (CDPR) would be forced to offer full refunds for the game. Consequently, the Company 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.”
Do you think that more lawsuits will be filed against CD Projekt RED over the release of Cyberpunk 2077? Let us know in the comments below!