Cyberpunk 2077 Investors and Developers Settle Class Action Lawsuit #cyberpunk
With all of the disaster that was the premature launch of Cyberpunk 2077 in Dec 2020, CD Projekt Red did what they could to clear the wreckage, make good with fans, and move forward with making repairs. They can now also put the class action suit behind them that company investors brought.
A federal judge in California’s Central District signed off (PDF) on a $1.85 million settlement between CD Projekt Red (CDPR) and a class-action suit led by plaintiff Andrew Trampe and headed by two law firms. Everybody who acquired publicly traded CDPR securities throughout most of 2020 is eligible for settlement funds, roughly $0.49 per eligible share. A consultant for the plaintiffs had previously estimated the maximum potential damages at $11 million.
The original complaint, filed in December 2020, alleged that the Polish developer misled investors and customers about Cyberpunk 2077’s readiness on then-current-generation consoles PlayStation 4 and Xbox One. CDPR made “materially false and misleading” statements during the year leading up to release, the complaint alleged, because the company should have known the game “was virtually unplayable on the current-generation Xbox or PlayStation system due to an enormous number of bugs.”
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