Today Pennsylvania-based law firm RM Law announced it has filed a class-action suit against CD Projekt S.A. for allegedly misleading investors and consumers over Cyberpunk 2077's performance.
Investor rights attorney office RM Law joins four other law firms in suing CD Projekt Group for possible securities fraud. The suit alleges that the company purposefully misled or failed to disclose key information surrounding Cyberpunk 2077's dismal PS4 and Xbox One ports. The game's low-end performance led to controversy, triggering mass refunds and removal from the PlayStation Store as well as a substantial drop in CD Projekt S.A. share value. Shortly after, CD Projekt executives took a conference call where they admitted to neglecting and hiding Cyberpunk 2077's last-gen gameplay from the public and investors.
CD Projekt is now being sued by five U.S. law firms:
We've also discovered that another firm, Faruqi & Faruqi, LLP, is currently investigating the company for securities fraud.
Here's an excerpt from RM Law's press release:
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Cyberpunk 2077 was virtually unplayable on the current-generation Xbox or PlayStation systems due to an enormous number of bugs; (2) as a result, Sony would remove Cyberpunk 2077 from the PlayStation store, and Sony, Microsoft and CD Projekt would be forced to offer full refunds for the game; (3) consequently, CD Projekt would suffer reputational and pecuniary harm; and (4) as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.