An investor has filed a lawsuit against CD Project SI, the Polish video-game publisher of Cyberpunk 2077, claiming that the company misled him about the possibility of a game being released this month, and that the shares released this month led to a dive.
Andrew Trump filed the lawsuit in federal court in Los Angeles on Thursday and is seeking to represent other investors who bought the company’s securities.
CD project Failed to disclose it Cyberpunk 2077 “Virtually unplayable on the current generation Xbox Or Play station Systems due to enormous errors, ”according to the complaint. As a result, Sony. Cyberpunk 2077 removed from Play station Store, and Sony, Microsoft. And according to the complaint, the company had to pay a full refund for the game.
Within three days of the release of Cyberpunk 2077 on December 10, the company’s American depository receipts fell 25 percent. They fell another 16 percent after Sony removed the game from its PlayStation Store on December 18th.
CD Project representatives did not respond to an email request for comment sent after normal business hours.
Last week, the studio announced that it had sold 13 million copies of its problematic CyberPunk 2077 game by December 20, a factor in the number of refund requests to the company.
The studio’s expected sales update will not contain information about the level of returns, which will provide the net sales number. Sony removes title from PlayStation Store, Microsoft gives full refund Xbox Customers.
“This number represents the estimated volume of retail sales on all hardware platforms (a factor in the revenue submitted by retail clients on digital store fronts, including brick and mortar), i.e., the number of ‘through sales’, all refund requests were mailed directly to the low-company,” said CD Projek on Tuesday. Stated in the regulatory filing.
Half of the 12-month sales forecast in the nine-analyst Bloomberg survey was taken before Sony removed the game from its store. The game had over 8 million pre-orders before the launch of December 10, which provoked outrage online from players frustrated with its poor performance and the CD project’s share price plummeted.
© 2020 Bloomberg LP