Investors claim they were misled and incurred substantial losses
In context: The launch of Cyberpunk 2077 has been something of a nightmare for CDPR. Not only do some gamers want their money back, but some investors do as well, claiming CDPR broke the law in not telling them what shape the game was in before release.
On Friday, Polish developer CD Projekt Red responded to a lawsuit filed on Christmas Eve. In a regulatory announcement, the publisher said it would defend itself “vigorously” against claims made in the filing.
“The plaintiffs call for the court to adjudicate whether the actions undertaken by the Company and members of its Management Board in connection with the release of Cyberpunk 2077 constituted a violation of federal laws, i.a. by misleading investors and, consequently, causing them to incur damages. The complaint does not specify the quantity of damages sought. The Company will undertake vigorous action to defend itself against any such claims.”
CDPR made plenty of mistakes with the release of Cyberpunk 2077 on PlayStation 4 and Xbox One. Not only was the game overhyped, but it was also so bug-ridden as to be considered unfinished, with some customers calling it “unplayable.”
To make matters worse, the studio was not transparent about Cyberpunk’s performance on base PS4 and XB1 systems. Despite the PC and late model PS4 Pro and Xbox One X being buggy but passable, the problems on older consoles spawned refunds and caused Sony to pull the title from the PlayStation store.
The fiasco ultimately sent the company’s stock plummeting, prompting securities investors to file a class-action lawsuit on December 24. Plaintiffs claim they incurred losses because CDPR misled them regarding the game’s state. They say that the lack of transparency violates federal securities laws.
As the financial consequences of CD Projekt Red’s mistakes continue to pile up, the developer remains committed to pushing updates until the game is fixed. Studio heads say most of the reworking should be completed by February 2021.