A New York law firm has filed a class action lawsuit on behalf of investors in CD Projekt SA. The lawsuit by the Rosen Law Firm seeks damages from purchasers of CD Projekt securities between January 16, 2020 and December 17, 2020, based on statements made by Cyberpunk 2077 development officials.

Primarily, the lawsuit alleges that false or misleading statements were made regarding Cyberpunk 2077's playability on current generation Xbox and PlayStation systems. The removal of Cyberpunk 2077 from the PlayStation store and the offer of refunds by Sony, Microsoft, and CD Projekt itself have been widely cited in the business community as the cause of CD Projekt's share price plummeting despite the high sales numbers. In the weeks prior to Cyberpunk 2077's launch, CD Projekt's CEO stated that the game ran "amazingly well"

on PS4 and Xbox One.

It is important to note that the lawsuit is only being filed in U.S. courts. In order for the lawsuit to proceed, the court must certify a class, which is a large group of people with similar claims that are the subject of the lawsuit. Rosen Law Firm is an international law firm that specializes in class actions against corporations on behalf of shareholders.

According to the law firm's press release, the logic of the lawsuit is as follows: "(2) As a result, Sony will remove Cyberpunk 2077 from the PlayStation Store, forcing Sony, Microsoft and CD Project to refund the game in full; (3) As a result, CD Projekt will suffer reputational and financial damage; and (4) As a result, at all relevant times, the Defendants' statements regarding their business, operations and prospects were materially false and misleading and/or lacked a reasonable basis. When the truthful details were made available to the market, investors complained that they were damaged."

We will follow the progress of this litigation, but note that class actions take time and securities litigation can take even longer.