CD Projekt lawyers negotiating settlement on securities fraud lawsuit

CD Projekt Group counsel are currently negotiating a settlement with investors on the most recent securities fraud lawsuit.

@DeekeTweak
Published Sun, Dec 12 2021 2:33 PM CST   |   Updated Thu, Jan 6 2022 12:32 AM CST

CD Projekt Group may settle its class-action securities fraud lawsuit and avoid a trial.

CD Projekt lawyers negotiating settlement on securities fraud lawsuit 323 | TweakTown.com

CD Projekt Group is being sued for potential securities fraud over Cyberpunk 2077's disastrous launch. Investors allege that CD Projekt willfully misled shareholders by not divulging Cyberpunk 2077's awful performance on PS4 and Xbox One--a controversy that tanked CD Projekt's share value. Investors suffered losses and sought legal counsel to sue the company on the grounds of securities fraud.

The lawsuit is currently ongoing, but CD Projekt now says that its legal counsel has "entered into negotiations concerning a potential settlement" with investors. If the case is settled then it wouldn't go to trial. Over 13 law firms sought to represent investors against CD Projekt Group and four separate securities fraud lawsuits were filed by claimants. Only four of these went to court, and they were combined into one single lawsuit.

No details on the negotiations have been made public.

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NEWS SOURCE:cdprojekt.com

Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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