At least two the five investigating law firms have filed class action securities fraud suits against CD Projekt Group. Now the games developer promises it will defend itself "vigorously" in court.
Five law firms are currently investigating CD Projekt Group for possibly misleading investors for material gain, which technically constitutes securities fraud. Two firms, Rosen Law and Schall Law, have moved forward by filing class-action lawsuits against CD Projekt. The allegations stem from CDP's miscommunication around Cyberpunk 2077's last-gen port, which kicked off widespread controversy and led to mass refunds and a significant stock drop (it's currently $19.18, down 23% since CP2077's launch).
The developer has now issued a response. CDPR confirms they received the class-action lawsuit and say they will take "vigorous action" against the lawsuits.
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.
The cases have yet to move forward, and CD Projekt executives have already publicly said they withheld footage and information on Cyberpunk 2077's PS4 and Xbox One performance problems.
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