Cyberpunk 2077, CD Projekt's false claims? Two shareholder class-actions are underway

Cyberpunk 2077, CD Projekt's false claims? Two shareholder class-actions are underway
The advances of the New York Times eventually materialized: at the behest of the shareholders of CD Projekt RED, the New York law firm Rosen Law filed a class-action action against the Polish company, accused of violating federal securities law.

Specifically, as stated in the official press release of the study, the accusations are made on behalf of the investors who bought shares from January 16, 2020 to December 17, 2020, with the aim of recovering the damage caused from the "false and / or misleading statements" released by CD Projekt RED on the state of development of Cyberpunk 2077.

After the disastrous launch of the game on consoles, Cyberpunk 2077 has been removed from the PlayStation Store, while Sony and Microsoft have changed their policies to ensure refunds for all unsatisfied players. CD Projekt RED, for its part, immediately got to work on improving the state of the game, and in a short time released three corrective patches - the last two days ago, the Cyberpunk 2077 Hotfix 1.06. There are many more on the horizon, including two major updates scheduled for the first two months of 2021.

Despite this, and despite the over 13 million units already sold (net of refunds), shareholders they considered the damage to their image and capital losses too great, thus deciding to proceed with the class-action. "The business, operations and outlook statements were materially false and misleading, and / or lacked a reasonable basis throughout the reporting period," the document reads. When the truth came out, "the shareholders suffered damage." Something is said that we will be hearing about it for quite some time.

Update 12:22 pm: we learn that a second class-action has also been launched against CD Projekt RED, in this case by the law firm Schall Law of Los Angeles, which with the same reasons and referring to the same window temporal invites all shareholders who have lost more than $ 100,000 due to the collapse of CD Projekt RED to participate. Recall that the losses on the stock market are in the order of one billion dollars.

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