CD Projekt will pay $1.85 million to settle a class-action lawsuit alleging that it misled investors over the quality of Cyberpunk 2077.
The suit wasfiled in December 2020by Rosen Law Firm, which wasseeking damages for CD Projekt investorsunder federal securities laws.
After three delays, the highly anticipated RPG was released forPCand consoles witha host of technical problems, resulting inrefunds being offeredand the game temporarilybeing pulled from the PlayStation Store.
According to the lawsuit,CD Projektmade false or misleading statements and failed to disclose that Cyberpunk 2077 was “virtually unplayable” on consoles, and “when the true details entered the market… investors suffered damages.”
A consultant for the plaintiffs had previously estimated that total potential damages could be as high as $11 million.
The $1.85 million settlement, which represents 16.8% of the estimated recoverable damages, will result in compensation of approximately $0.49 per eligible share of CD Projekt securities.
It will be used to pay class members, settlement administration costs, taxes, attorney’s fees and costs, and incentive awards for the plaintiffs.
Plans to release a standalone Cyberpunk multiplayer game wereaxed because of 2077’s botched release, with CD Projekt instead choosing to invest its resources in improving the already available game.
Further reading
Having sinceturned Cyberpunk 2077’s fortunes around, CD Projekt is reportedly planning torelease a Game of the Year edition in 2023, featuring the game’sfirst and only expansion, the upcoming Phantom Liberty.
In October,CD Projekt Redoutlined its development slate for the foreseeable future, including aCyberpunk 2077 sequel, a new trilogy of Witcher games, aWitcher remake, andthe studio’s first original IP.
