Four class actions against CD Projekt were combined into one
After the scandalous release of Cyberpunk 2077, several law firms filed class-action lawsuits against CD Projekt on behalf of disgruntled investors. Now four of them have been combined into one. Its amount is still unknown.CD Projekt announced the court’s decision in a new report on its official website.
The information came from a law firm that protects the interests of the company.
Recall that since December last year, several class actions have been filed against CD Projekt:- On December 24, the law firm Schall Law announced its intention to file a lawsuit against CD Projekt. The losses of investors were estimated at more than $ 100 thousand;at the same time, the New York firm Rosen Law also called on investors to unite against the Polish company.
- The amount of the claim remained unknown, but the developers of Cyberpunk 2077 were accused of misleading shareholders and actions that led to financial losses.;at the end of December, the law firm Bragar Eagle & Squire urged investors to file a similar class action lawsuit against CD Projekt;
- On December 25, Wolf Haldenstein Adler Freeman & Herz announced the filing of a class action lawsuit.
- The essence of the claims also consisted of false statements and losses of investors;In early January, RM Law announced the filing of a class action lawsuit.
- CD Projekt was accused of releasing an “unplayable, overloaded game on the current generation of consoles”, as well as misleading investors.Thus, at least five collective lawsuits against CD Projekt were known in total.
Why, as a result, the court united only four of them is unknown. Perhaps one of the lawsuits was withdrawn, or did not gain enough investors to file.
Nothing is yet known about the start date of the hearings. It is unclear how much investors estimate the damage caused to them, as well as exactly how many people signed up for the class action. Earlier, the Polish company noted that it is ready to defend its rights in court.
Despite the problematic launch of Cyberpunk 2077, the financial success of the game provided CD Projekt with record figures for the fiscal year 2020. The company’s revenue exceeded $530 million, and its net profit was $280 million. After the publication of the financial report, it also became known that CD Projekt reserved over $50 million to cover possible losses from Cyberpunk 2077 refunds.
