One of the potential lawsuits alleges “misrepresentation in order to obtain financial benefits”
Some of CD Projekt RED’s investors are allegedly considering filing class-action lawsuits over Cyberpunk 2077.
Per the New York Times, Polish attorney and CD Projekt RED investor Mikołaj Orzechowski has expressed that he’s looking into the possibility of suing the company, alleging that it may have misrepresented itself to investors in a bid to secure funding.
In a briefing prepared by Orzechowski, he said: “[We] are currently analysing, together with the law firm’s team, the grounds for bringing a class action together with the notification of the possibility of committing a crime under Art. 286 of the Penal Code. – misrepresentation in order to obtain financial benefits”.
This is not the only potential lawsuit CD Projekt RED is faced with. Last week, New York-based law firm, Wolf Haldenstein Adler Freeman & Herz LLP, also announced that it may sue CD Projekt RED for providing misleading information to its shareholders.
In a press release, the law firm stated it was investigating a “potential securities claims on behalf of shareholders of CD Projekt S.A. resulting from allegations that CD Projekt may have issued materially misleading information to their shareholders and investing public”.
CD Projekt RED has not commented on either of the potential lawsuits.
The news of the potential lawsuits follow a tumultuous week for CD Projekt RED, which includes the announcement of refunds for Cyberpunk 2077, the removal of the game from the PlayStation Store, and the studio’s founders losing $1billion worth in stock following the game’s messy release.
CD Projekt RED also admitted last week during an investor Q&A that it had not spent enough time on the PS4 and Xbox One versions of the game, leading to low resolution gameplay, inconsistent frame rates and a slew of game-breaking bugs and crashes.