Cyberpunk Publisher Will 'Vigorously' Defend Itself Against Investor Lawsuit

Cyberpunk 2077 publisher CD Projekt SA plans to "vigorously" defend itself against claims made in class action lawsuits, Bloomberg reported.
What Happened: Andrew Trampe, an investor, filed a lawsuit in federal court in Los Angeles Thursday alleging the video game developer misled investors about the state of the game and possible technical issues that resulted in losses.
Scroll to continue with the content
Microsoft and Redis
Meet the fast and fully managed in-memory data store.
Don't miss the opportunity to hear unique perspectives from Microsoft and partner specialists and learn more about Azure Cache for Redis.
According to court files, the plaintiff CD Projekt did not warn investors that Cyberpunk 2077 "is practically unplayable on the current generation of Xbox or Playstation systems due to an enormous number of errors".
The video game developer promised to defend itself against "such claims".
Why It Matters: Sony Corp (NYSE: SNE) removed the long-awaited game from the PlayStation Store on December 18 and offered a full refund to anyone who purchased it.
CD Projekt SA's American Depositary Receipt shares fell 25% in the next three days following the game's December 10 release. They fell another 16% following Sony's announcement.
According to Bloomberg, users began complaining about glitches and bugs in the game just hours after it was officially released.
Microsoft Corporation (NASDAQ: MSFT) also offers refunds for the game, but has not yet removed the game from the Microsoft Store.
Price action: Sony shares fell 0.60% and closed after trading on Thursday at $ 96.26.
Microsoft was trading at $ 222.51, down 0.11% on Thursday after close of trading.
Image: Courtesy Cyberpunk 2077
See more from Benzinga
Click here for Benzinga option trades
Bitcoin Crosses, 700, targets at, 000
Here's what you need to know about cyberattacks against the US:
© 2020 Benzinga does not offer investment advice. All rights reserved.
In this article
+ 0.78%

You should check here to buy the best price guaranteed products.

Last News

How one woman is saving lives and breaking down stereotypes by teaching Black people swim

Former cop gets nearly 5 years in woman's killing

Video Shows Cops Forcing Man Off Subway After He Says He Asked Them To Wear Masks

Soaring Energy Prices Top Agenda at EU Summit

We’re in ‘an equity friendly investing environment’: BNY Mellon Wealth Management CIO

Everyone Gets a Free Taco Bell Breakfast Burrito on October 21