Support NeoGAF

[Craig of War]

Cyberpunk 2077: Class-Action Lawsuit Filed Against CD Projekt S.A. - IGN

New York-based Rosen Law Firm has filed a class-action lawsuit against Cyberpunk 2077's publisher CD Projekt S.A. over the ongoing issues surrounding the game and its launch.

www.ign.com

"New York-based Rosen Law Firm has filed a class-action lawsuit against Cyberpunk 2077's publisher CD Projekt S.A. due to its alleged violation of federal securities laws.


Announced in a press release, Rosen Law Firm is filing the class-action lawsuit on behalf of purchasers of the securities of CD Projekt S.A. between January 16, 2020 and December 17, 2020, and is seeking to "recover damages for CD Projekt investors under the federal securities laws."

The lawsuit claims that CD Projekt has "made false and/or misleading statements" and/or failed to disclose that "Cyberpunk 2077 was virtually unplayable on the current-generation Xbox or PlayStation systems due to an enormous number of bugs."

In response to the many issues and messy messaging surround the game's launch, Sony removed Cyberpunk 2077 from the PS Store and Sony, Microsoft, and CD Projekt would "be forced to offer full refunds for the game."

The lawsuit claims that, as a result of the above, "CD Projekt would suffer reputational and pecuniary harm" and that its "statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages."

This news follows a previous report that lawyers and investors in Warsaw, Poland - where CD Projekt S.A. is located - were "circling the situation" and were deciding whether or not they should take action.

 

[Tickle My Tendies]

Posted days ago

CDPR Facing Class-Action Lawsuit for "misrepresentation in order to receive financial benefits” [NYT]

https://www.nytimes.com/2020/12/19/style/cyberpunk-2077-video-game-disaster.html Refund requests are pouring in by the thousands. Lawyers and investors in Warsaw are circling the situation, contemplating a class-action lawsuit against the company for potential criminal “misrepresentation in...

www.neogaf.com

You re-post threads a lot.

 

[Freelance Yakuza]

Posted days ago

CDPR Facing Class-Action Lawsuit for "misrepresentation in order to receive financial benefits” [NYT]

https://www.nytimes.com/2020/12/19/style/cyberpunk-2077-video-game-disaster.html Refund requests are pouring in by the thousands. Lawyers and investors in Warsaw are circling the situation, contemplating a class-action lawsuit against the company for potential criminal “misrepresentation in...

www.neogaf.com

You re-post threads a lot.

The old thread was about NY times and a "possible" lawsuit in Warsaw, this one is in US

"New York-based Rosen Law Firm has filed a class-action lawsuit against Cyberpunk 2077's publisher CD Projekt S.A. due to its alleged violation of federal securities laws.

 

[Darkmakaimura]

Cyberpunk 2077: Class-Action Lawsuit Filed Against CD Projekt S.A. - IGN

New York-based Rosen Law Firm has filed a class-action lawsuit against Cyberpunk 2077's publisher CD Projekt S.A. over the ongoing issues surrounding the game and its launch.

www.ign.com

"New York-based Rosen Law Firm has filed a class-action lawsuit against Cyberpunk 2077's publisher CD Projekt S.A. due to its alleged violation of federal securities laws.


Announced in a press release, Rosen Law Firm is filing the class-action lawsuit on behalf of purchasers of the securities of CD Projekt S.A. between January 16, 2020 and December 17, 2020, and is seeking to "recover damages for CD Projekt investors under the federal securities laws."

The lawsuit claims that CD Projekt has "made false and/or misleading statements" and/or failed to disclose that "Cyberpunk 2077 was virtually unplayable on the current-generation Xbox or PlayStation systems due to an enormous number of bugs."

In response to the many issues and messy messaging surround the game's launch, Sony removed Cyberpunk 2077 from the PS Store and Sony, Microsoft, and CD Projekt would "be forced to offer full refunds for the game."

The lawsuit claims that, as a result of the above, "CD Projekt would suffer reputational and pecuniary harm" and that its "statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages."

This news follows a previous report that lawyers and investors in Warsaw, Poland - where CD Projekt S.A. is located - were "circling the situation" and were deciding whether or not they should take action.

Oh no.

 

[wordslaughter]

Nothing significant will come of this. CDPR will be vindicated and victorious!

 

[puffzor]

Nothing significant will come of this. CDPR will be vindicated and victorious!

I bet it settles out of court. Doubt the investors OR CDPR are interested in the kind of publicity or expense a long legal fight would entail.

 

[Hawking Radiation]

Posted days ago

CDPR Facing Class-Action Lawsuit for "misrepresentation in order to receive financial benefits” [NYT]

https://www.nytimes.com/2020/12/19/style/cyberpunk-2077-video-game-disaster.html Refund requests are pouring in by the thousands. Lawyers and investors in Warsaw are circling the situation, contemplating a class-action lawsuit against the company for potential criminal “misrepresentation in...

www.neogaf.com

You re-post threads a lot.

Perhaps try reading the article first?

 

[CthulhuPL]

The game is still great though!

 

[DiegoAndrad]

These lawsuits are absurd. It's basically some investors trying to take money from other investors that had nothing to do with anything. Management is the real culprit.

 

[KyoZz]

 

[kretos]

 

[Cyberpunkd]

I bet it settles out of court. Doubt the investors OR CDPR are interested in the kind of publicity or expense a long legal fight would entail.

CDPR is a Polish company listed on Polish stock exchange. A lawsuit in NY is an example of yet another American company thinking the world revolves around the US.

 

[LiquidRex]

 

[Deleted member 17706]

Are we about to get a legal precedent set of what constitutes "virtually unplayable" in the context of video games?! Wild.

I'm guessing this goes no where.

 

[Senua]

 

[puffzor]

CDPR is a Polish company listed on Polish stock exchange. A lawsuit in NY is an example of yet another American company thinking the world revolves around the US.

Almost as if Poland has a trade treaty with the US which allows for this

 

[V4skunk]

The game is still great though!

It has a good core but very rough around the edges to say the least. I expect it to improve with every patch.
I hope cdpr also cancel last gen and go 100% in on pc and next gen versions.

 

[ReBurn]

Oh look. Lawyers get rich, consumers get nothing.

You would make more money selling your copy on eBay. I'd avoid it.

 

[CloudNull]

Nothing will come of this.

 

[Hawk269]

This is not going to go anywhere imho. I have played a lot more broken games in my 45+ years of gaming than Cyberpunk. I do agree that there are bugs and issues, but it is not broken and it is certainly playable. The 1.04 update worked wonders for base consoles and they continue to improve things.

 

[RoyBatty]

Nothing to worry about

 

[LordBlodgett]

Rosen has done this to a ton of publicly listed companies. Just Google them and you can see a ton of lawsuits filed by them. They nearly always end up getting settled too. We'll have to see how many people join in this one, and whether or not the case is really solid that CDPR purposely misled customers or investors

 

[Explosive Zombie]

Lol

 

[Abriael_GN]

This is the only kind of company (I mean Rosen Law Firm) that I honestly would like to see going out of business. The world would be better without vultures like them.

Can't wait to see them lose, and I hope it's very public and messy for them.

 

[Chris_Rivera]

That’s not good. Didn’t do themselves any favors by hiding the console versions. I’d be pissed if I was an investor.

 

[Strider Highwind]

Lawsuit is on behalf of investors who felt they were lied too, not gamers....Games still successful so the investors will get their returns...but you also can't blatantly mislead your investors

If any of them can prove they invested more money after being told the base ps4 version ran "surprisingly good" for example.....its gonna turn into a bigger shit show

Witcher 3 sold what..28 or 29 million copies with 12 million of those copies sold on PC and another 11 million on PS4 alone?

 

[TeamGhobad]

typical grubby new york lawyers and their lawsuits

 

[Isendurl]

Didn't Hello Games also had lawsuit filed against them after No Mans Sky? And that case was later dismissed?
I bet this will be dismissed as well.

 

[ShadowNate]

Got to say, I have the game on PC and used to trust CDPR to deliver (I feel a lot different right about now though). I am kind of ok with them dealing with all of this backlash and that it is happening.

It means that people, customers and investors, are kind of done with misleading marketing practices and terrible releases, even if it comes from their favorite company.

It also is a different, more meaningful and justified reaction, as opposed to the unfortunately usual woke mobs and the snotty mentally defective crowd on social networks.

 

[Dodo123]

Another absurd overreaction - we all know this mess wouldn't happen if CDPR was from the US or the Western Europe. Stay pressed, the game will continue to sell well.

 

[Elios83]

CD Project put themselves in this position but these law firms are the worst.....they couldn't care less about consumers rights, they're just smelling blood and want to try to get some money from the situation.

 

[Bernd Lauert]

Lawyers trying to make a quick buck, nothing new.

 

[oldergamer]

This class action is dumb. On both consoles release is on the platform holder. Not only that but they already fixed the frame rate issue and most of the progression bugs.

 

[thuGG_pl]

This is the only kind of company (I mean Rosen Law Firm) that I honestly would like to see going out of business. The world would be better without vultures like them.

Can't wait to see them lose, and I hope it's very public and messy for them.

Get ready for dissapointment then.

 

[K.S v2.0]

Ok so uh... IANAL, but... a US based lawler firm is suing a Polish company... in the US? How in the hell does this work? CDPR would have to literally go to the US to defend this, what happens if they just go LOL FUCK YOU MURRICUNTS and just no show?

Seriously asking here, I have NO idea how this would even work... if you want to sue someone in another country, don't they effectively just get to email you a pic of their dick and a middle finger and call it a day?

 

[Venom Snake]

Ok so uh... IANAL, but... a US based lawler firm is suing a Polish company... in the US? How in the hell does this work? CDPR would have to literally go to the US to defend this, what happens if they just go LOL FUCK YOU MURRICUNTS and just no show?

Seriously asking here, I have NO idea how this would even work... if you want to sue someone in another country, don't they effectively just get to email you a pic of their dick and a middle finger and call it a day?

When there is a dispute where the parties come from different countries, the general rule is that anyone can be sued in the country where they are domiciled or located. Therefore, a lawsuit against people living in Poland (and not only against Polish citizens), as well as against companies registered there, will usually be submitted to a Polish court. This principle also applies to other European Union countries. The seat of the company shall be the place where the seat indicated in the articles of association is located, or where its management board or principal place of business is located.

If the entrepreneur has been sued in another country and believes that the justice system there is not competent to hear his case, he should not appear in court or respond to the plaintiff's letters and limit his participation in the case to questioning the jurisdiction of the court.

Or send them a dick-pic via email

 

[K.S v2.0]

When there is a dispute where the parties come from different countries, the general rule is that anyone can be sued in the country where they are domiciled or located. Therefore, a lawsuit against people living in Poland (and not only against Polish citizens), as well as against companies registered there, will usually be submitted to a Polish court. This principle also applies to other European Union countries. The seat of the company shall be the place where the seat indicated in the articles of association is located, or where its management board or principal place of business is located.

If the entrepreneur has been sued in another country and believes that the justice system there is not competent to hear his case, he should not appear in court or respond to the plaintiff's letters and limit his participation in the case to questioning the jurisdiction of the court.

Or send them a dick-pic via email

So, CDPR only need to front up to the Polish court that receives the lawsuit and not actually go to the US to defend?

 

[Neo 007]

Bitches gunna Bitch.

 

[Venom Snake]

So, CDPR only need to front up to the Polish court that receives the lawsuit and not actually go to the US to defend?

As far as I know, yes. If CDPR does not have any agreement with a foreign investor specifying the conditions for selecting courts in the event of a dispute, it should defend itself in Poland.
This could change if the defendant started a substantive defense in a US court, for example by responding to the allegations on paper or by sending his legal representative to the US court. A dick-pic does not bear any signs of a substantive defense.

In addition, regulations regarding class action lawsuits practically do not exist in Poland. And to determine the amount of the claim, losses would have to be unified among the members of the whole group.
In the case of stock market damage, it is almost clear that each investor bought and sold shares at different times, so it would be almost impossible to define them in such way. Each of the investors will have to file a private complaint or they can go fuck themselves.

Regardless, an expert witness will have a considerable problem in determining the influence of psychological factors or market mechanisms on the share price, and how the behavior of the companies influenced the behavior of investors based on media coverage.

I also do not think that the Polish Financial Supervision Authority will be in a hurry to assess the actions of the management board of CDPR during the validity period of the claim.

 

[Nikodemos]

Unfortunately for CDPR, there are receipts of Adam Whatshisface outright lying to investors that the game is okay on last-gen consoles. When Sony pulls a title off their store and offers refunds (something Sony absolutely hate doing) that kinda flies in the face of all previous statements.

 

[Darko]

Nothing significant will come of this. CDPR will be vindicated and victorious!

"bu but we patched it"

 

[Mozzarella]

Is there a chance that Gog will cease to exist now? I like the website.

 

[AeonGaidenRaiden]

In all this i just feel bad for devs. They were grinding for years jsut so that their reward is a total shit show from day one. Andromeda glitches are a small baby compared to what CP2077 will be remembered as even after they patch it eventually one day.

I mean, Witcher 4 will be under the biggest magnifying glass after this shit show. If they even manage to get out of this because these arent some low threat lawsuits. This is the real deal thats going to cost millions.