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.
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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
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