Cyberpunk 2077 Maker CD project sued by investor for failed market launch

CD Projekt SA, Cyberpunk 2077’s Polish video game publisher, has been sued by an investor who claims the company misled him about the potential of the bug-ridden game, whose botched release this month caused its shares to fall .

Andrew Trampe sued in federal court in Los Angeles Thursday, trying to represent other investors who have bought the company’s securities.

CD Projekt did not announce that, according to the complaint, Cyberpunk 2077 “was practically unplayable on Xbox or PlayStation systems of the current generation due to an enormous number of errors”. As a result, Sony. Cyberpunk 2077 removed from PlayStation Store and Sony, Microsoft. and the company was forced to offer full refunds for the game, according to the complaint.

The company’s American depository receipts fell 25 percent in the three days following Cyberpunk 2077’s December 10 release. They fell another 16 percent after Sony removed the game from its PlayStation store on December 18.

CD Projekt representatives did not respond to an email request for comment sent outside normal business hours.

Last week the studio announced that it had sold 13 million copies of its problematic Cyberpunk 2077 game as of December 20. This number takes into account the number of refund requests the company has received.

The studio’s expected sales update does not include any information about the amount of the refunds themselves, just the net sales number. Cyberpunk was so plagued by glitch that Sony pulled the title off its PlayStation Store while Microsoft offered Xbox users full refunds.

“This number represents the estimated volume of retail sales across all hardware platforms (taking into account returns submitted by retail customers in both brick and mortar and digital stores), that is, the number of sales minus any refund requests. E. – Sent directly to the company, “CD Projekt said in a regulatory application on Tuesday.

The sales figure is roughly half the 12-month sales forecast from a Bloomberg survey of nine analysts conducted before Sony removed the game from business. The game had more than 8 million pre-orders prior to its December 10th debut, sparking an online outcry from gamers disappointed with its poor performance and a collapse in CD Projekt’s share price.

© 2020 Bloomberg LP


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