After the law firm Rosen Law Firm, Schall Law from Los Angeles has announced a class action lawsuit against CD Projekt. The basis for this should be false statements about the state of Cyberpunk 2077. Meanwhile, CD Projekt plans to vehemently defend itself against such allegations.
Class action lawsuit for misleading statements
The new class action lawsuit is aimed at all investors who lost more than $ 100,000 to CD Projekt shares. The company’s share price plummeted following the release of Cyberpunk 2077 as the game struggled with issues, especially on the original last-gen consoles.
The legal basis for the lawsuit is to provide false information about the status of Cyberpunk 2077 that CD Projekt supposedly did last year. This is about statements like in January when high-ranking CD Projekt employees claimed that the game was already complete and playable. In the fall, the company also affirmed several times that Cyberpunk 2077 could also run on the last-gen consoles. As a result, CD Projekt is said to have painted an unrealistically positive image of the game.
The first class action: Cyberpunk 2077: CD Projekt threatens class action – investors misled?
It is uncertain whether such statements will really suffice to prove that CD Projekt has deceived investors. The company has since published a statement on the first class action lawsuit, announcing that it will vehemently defend itself against the allegations.
[CD Projekt] will vigorously defend itself against such claims.
With Cyberpunk 2077 being an immense success despite the criticism, the company has the financial resources for a lengthy legal battle. This is probably of interest to the law firms behind the class actions, because they make their own money from the process. It remains to be seen whether there will be any process at all in the end. First investors have to be found who agree with the allegations. Then it could still come down to a comparison, as has been the case several times in the past.
Source CD Projekt / Scribd via Golem
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