Cyberpunk Maker Vows Defense Against Class Action Suit Claims

CD Projekt SA, the Polish video-game publisher of Cyberpunk 2077, said it will defend itself vigorously after an investor sued the company for allegedly misleading holders of its depository receipts and incurring losses.

The investor filed the suit in federal court in Los Angeles, claiming he was misled by the maker of the error-plagued game, which caused shares to dive after its release earlier this month. Sony Corp. removed Cyberpunk 2077 from the Playstation store, and Sony, Microsoft Corp. and the company were forced to offer full refunds for the game.

“The plaintiffs call for the court to adjudicate whether the actions undertaken by the company and members of its management board in connection with the release of Cyberpunk 2077 constituted a violation of federal laws, i.e. by misleading investors and consequently causing them to incur losses,” the company said in a filing late on Friday, vowing to defend itself “vigorously against any such claims.”

The quantity of the damages has not been specified in the complaint, it said. The company’s American Depositary Receipts fell 25% in the three days after Cyberpunk 2077 was released on Dec. 10. They fell another 16% after Sony removed the game from its Playstation store on Dec. 18.

©2020 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.