CD Projekt Red investors sue company over Cyberpunk 2077 disaster

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Zoom in / People complain about situations like this on Cyberpunk 2077.

On the day of its release, Cyberpunk 2077 It instantly turned from one of the most awaited new games of the holiday season to one of the biggest disasters of the year, as the comic bugs and the hacker game proved to be Very prolific on keyboards So that Sony The title is crossed out completely From a digital interface replaced at the moment. Developer and publisher CD Projekt Red has been buzzing for the past few weeks juggling widespread mockery and dissatisfied customers, and now there’s a new problem in the pile: shareholder allowances.

Two different legal firms announced last week that they had filed a lawsuit against CD Projekt, claiming that the company had violated securities law by misleading investors (and anyone else) about the case. Cyberpunk 2077 And whether it can be played on current generation consoles, PlayStation 4 and XBox One.

Data CD Projekt Red made about Cyberpunk Throughout 2020 the complaint has been „materially wrong and misleading”)PDF), Because the company failed to indicate that the game „was inoperable on the current generation of Xbox or Playstation systems due to an overwhelming number of bugs.”

These bugs were not widely known prior to the game’s release, because the company had not made console copies of the game available for review. Each port contains a pre-release version of Cyberpunk (Including Ars) play it on PC. CD Projekt after release I apologize The console version is unavailable and „therefore not allowing you to make an informed purchase decision.”

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The lawsuit is citing Many cases of release delays The game started, first from April 2020 to September 2020, then from September to November, and finally from November To December. Every time the studio announced a delay, the executives publicly promised the game was on the right track completely, but they needed a little more refinement and started a period of Ongoing crisis to achieve that.

However, following the game’s release, co-CEO of CDPR Adam Kisinski I acknowledge That the company has focused so heavily on this three-time delayed deadline rather than the actual issues in the game.

„We have downplayed the scale and complexity of the issues, ignoring signals about the need for additional time to improve the game on the main last-generation consoles,” Kisinski said in a conference call.

„We were updating the game on last-generation games until the last minute, and we thought we would achieve it in the right time,” said Marcin Iwinski, the co-CEO, on the same call. „Unfortunately, this resulted in it being given to the reviewers just a day before the release, which was definitely too late, and the media didn’t have a chance to properly review it. It wasn’t intended; we were fixing the game until the last minute.”

CD Projekt Red said in a file over the weekend that it would Defend itself „hard” Against shareholder claims.

Meeting expectations

Given the ongoing disaster of Cyberpunk 2077 The investor’s lawsuit seemed inevitable. This type of legal process is incredibly common anytime a company takes a major PR hit.

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Under US law, publicly traded companies have a fiduciary duty to their shareholders. Basically, the company officers have a legal obligation Work in the companyAnd the interest of its investors. Shareholders and corporate employees tend to interpret this as a legal duty to maximize company profits, though Not exactly what the law says.

جاءت ذروة شهر ديسمبر في سعر سهم CDPR في 4 ديسمبر. منافذ البيع (<a href =""> Including Ars </a>) In posting reviews on December 7 (first drop), and the game was released on December 10 (mid-big downhill), Sony <a href =""> cross off </a> The game is on December 17th (little climax just before the second fall). <br />„src =”×287.jpg „width =” 640 „height =” 287 „srcset =” https: //cdn.arstechnica .net / wp-content / uploads / 2020/12 / CDPR_stock.jpg 2x „/></a><figcaption class=
Zoom in / CDPR share price peak in December came on December 4th.Including Ars) Started posting reviews on December 7 (first drop), game released December 10 (mid-big downhill), Sony cross off The game is on December 17th (small climax just before the second fall).

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The argument in this type of shareholder lawsuit is essentially: the company did something it shouldn’t do – lied about something, underestimated the risk, made a critical mistake in judgment, etc. – as a result, it hurt the company’s public image and, in turn, Hurt investors.

Pinterest contributors, for example, File a lawsuit against that company Earlier this month, she alleged that the board of directors had failed in their fiduciary duty as allegations of widespread discrimination based on race and gender within the company severely damaged its image with its female user base significantly. Similar lawsuit settlement for shareholders In September, due to her handling of harassment lawsuits within the company. Back in April, Filing a lawsuit against Zoom investors The sensation of the video overnight, arguing that the company should have known that its product was not up to specification before the outbreak of the epidemic.

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