Class Action claims Cyberpunk 2077 publisher misled investors

Illustration for the article titled Class Action Lawsuit Alleges Cyberpunk 2077 Publisher Lied and Misled Investors

Photo: Philip Fong / AFP (Getty Images)

After Cyberpunk 2077 it debuted in the world and ignited a junk fire of anger and disappointment, the time starting to tick. Many wondered when that anger would manifest itself in a lawsuit bring the game’s publisher, CD Projekt Red to court. It happened on Christmas Eve.

On Thursday, the Rosen law firm presented a class action lawsuit in Central California District Court on behalf of investor Andrew Trampe and others who have purchased CDPR securities—For example, stocks—between January 16 and December 17 of this year. The company, Joint CEO Adam Kicinski, CFO Piotr Nielubowicz, and Vice President of Business Development Michał Nowakowski are all named as defendants. The company claims the company either intentionally withheld information and lied about the game’s development or acted with “reckless disregard for the truth,” which consequently inflated the market price of those titles.

This kind of falsehood came to light when the game finally launched on December 10th. Over the next few days, players began to realize that the game they had waited years for was basically unplayable, and the company’s shares plummeted. As of this week, CDPR shares had fallen 42% since their close on December 4, according to Barron’s.

The development of this disaster ultimately hurt CDPR’s investors, says law firm Rosen.

“If the plaintiff and the other class members had known the market price […] it had been artificially and falsely inflated by the misleading statements of the Company and individual defendants […], they would not have bought the Company’s stock at the artificially inflated prices they did, or they would not have bought at all, “the company wrote in its filing in court.

The lawsuit includes a long list of statements about the game’s development and launch from the company, which knowing what we know now, looks pretty bad. According to the lawsuit, the lies began on January 16, when CDPR released a statement announcing it Cyberpunk 2077 it was “complete and playable”. However, the release date would be moved from April 17 to September 7 because the company “needed more time to complete playtesting, fixing and polishing.”

This was the first of many delays announced by the company. On September 4, the lawsuit cites a conference call in which Kicinski stated that the company was preparing for final certification and was “very close.” In that call, Kicinski stated that the company had plans to launch the game on November 19, another delay.

“[T]The current version, which will be released in November, will be playable from the start when the next generation consoles are released, “Kicinski said, for the suit.”[Y]You will be able to play the current-gen version from the next-gen from day one. “

Again, he was wrong.

In hindsight, probably the craziest statements A call came from November 25th. According to the dress, wtwo weeks after the game’s release, Kicinski said the company believes that “the game works great on every platform”. When asked about the bugs, Kicinski admitted that there were a few, but they were minimal enough to go unnoticed by players.

As we all know, Kicinski would end up wrong again, a point that was reiterated in a conference call in the following days. Cyberpunk 2077In which Kicinski said that the console versions of the current generation of the game were far below the expectations of the company.

“After 3 delays, we as the board of directors were too focused on releasing the game. We underestimated the scale and complexity of the problems, ”Kicinski said the dress. “It was the wrong approach and against our corporate philosophy.”

T.the class action, which the lawsuit claims could have hundreds or thousands of interested parties, has not yet been certified, Rosen law firm said in a Press release. The company asks the court to approve the class action and asks people interested in joining to contact it.

Gizmodo contacted CDPR and the Rosen law firm for a comment on the case. We will make sure to update this post if we hear from you again.

Since its release, Cyberpunk 2077 and CDPR have fallen from grace. Sony he pulled the game from his online store and offers full refunds to anyone who bought it through his store. Microsoft is offer refunds of his own. To its credit, CDPR has apologized and has also stated that it will refund unhappy players. Ironically, CDPR has returned to its old habits, promising quick fixes and improvements to its broken product by a particular date.

“[W]We will fix bugs and crashes and improve the overall experience, “the company said in a Twitter declaration of 14 December. “The first round of updates has just been released and the next one will arrive within the next 7 days. Expect more, as we will see updayou frequently whenever new improvements are ready. After the holidays, we will continue to work: we will be releasing two big patches starting with Patch # 1 in January. This will be followed by patch no. 2 in February “.

From that statement, the company has has released fixes. Yet there is still time before the alleged release of Patch # 1 and Patch # 2. We’ll see if the company keeps its word this time.