It’s now official, a class action lawsuit against CD Projekt Red is pending. Rosen Law Firm has just filed a class action lawsuit against the Polish developer for statements that are misleading regarding the development of Cyberpunk 2077. Having lost billions in market valuation in the past few weeks, the company is under more pressure than ever.
Wrong statements about CD Projekt Red?
Class litigation is a relatively common lawsuit aimed at filing a complaint on behalf of multiple plaintiffs. Here, therefore, the lawyers of the law firm Rosen propose to the shareholders of the studio to represent them in a future lawsuit against him. To be precise, all CD Projekt Red title buyers can join the class action lawsuit between January 16, 2020 and December 17, 2020. Why this data? Because, according to the law firm, at that time it was the developers of Cyberpunk 2077 have provided false and / or misleading information and failed to disclose certain information.
Indeed, the experts at the Rosen law firm criticize CD Projekt Red’s management for their lack of transparency. For lawyers, Cyberpunk 2077 was not playable on Xbox One and PS4 last January due to a large number of bugs, despite the studio claiming otherwise. A position that is supposed to be reassuring, but which could actually have resulted in investors buying shares in CD Projekt Red based on incorrect information.
Financial loss to shareholders
When it was released, and because of these errors, Sony pulled out Cyberpunk 2077 its online platform. At the same time, PlayStation, Xbox and CD Projekt Red had to reimburse the game to the buyers who requested it. A context that obviously affects the company’s reputation, but also its financial results, with fewer games sold and a sharp drop in the stock markets. A form of prejudice for shareholders, as the law firm Rosen points out.
The trial has not yet been held. The class action lawsuit is open and can be accompanied by the complainants. As soon as the lawyers classify the latter as sufficiently numerous, the appeal can be filed and then assessed. This should take several weeks, unless the different parties come to an agreement beforehand.
Cyberpunk 2077 clearly didn’t finish talking about him. While patches are in development and slated to appear in January and February, the game has already sold over 13 million units. An impressive number that applies more to a new license, but is not synonymous with the full success of CD Projekt Red.
Earlier this month, studio managers reassured their employees that they “Take your responsibility”. They are therefore compelled to do so by this class action lawsuit. It remains to be seen how this will continue for the developer currently in the spotlight.
