On the release date, Cyberpunk 2077 Immediately developed from one of the most anticipated new games of the holiday season to one of the biggest crashes of the year, because comedy and game-destructive vulnerabilities proved so many on consoles that Sony even completely removed it from its digital storefront at the time. The title of the game has been deleted. exist. The developer and publisher CD Projekt Red has been so busy in the past few weeks that they have been busy mocking customers and dissatisfied customers, and now there is a new problem: shareholder lawsuits.
Last week, two different law firms announced that they would file a lawsuit against CD Projekt, accusing the company of violating securities laws by misleading investors (and others) about the status of securities transactions. Cyberpunk 2077 And whether it can be played on the current game consoles PlayStation 4 and XBox One.
Statement by CD Projekt Red Cyberpunk The complaint stated that the entire 2020 is “substantially false and misleading”
These errors were not widely known before the game was released because the company did not provide a console copy of the game for review.Every store with a pre-release copy Cyberpunk (Including Ars) Play on PC. After the release of CD Projekt, apologized for not providing a console version, “Therefore, you are not allowed to make a more informed decision about the purchase.”
The lawsuit cited many release delays faced by the game, first from April 2020 to September 2020, then from September to November, and finally from November to December. Every time the studio announces a delay, the executives will publicly promise that the game will be completely step-by-step, but only with a little bit of modification and a continuous period of austerity.
However, after the game was released, CDPR co-CEO Adam Kitchinski admitted that the company was too focused on the three-delay deadline, rather than the actual problems of the game.
Kiciński said on the conference call: “We underestimated the scale and complexity of the problem, and we ignored the signal that additional time was needed to improve the game on the basic previous-generation console.”
Co-CEO Marcin Iwiński said on the same phone call: “We have been updating the game on the last generation consoles, and until the last minute, we think we will do it in time.” “Unfortunately, this resulted in it being made available the day before the release To the reviewers, it must be too late and the media has no chance to review it properly. This is not intentional; we are just revising the game until it’s released. The last minute.”
CD Projekt Red said in a document over the weekend that it will “vigorously” defend shareholders’ demands.
Meet expectations
Given the continuing collapse Cyberpunk 2077 After the launch, investor litigation seems almost inevitable. This kind of legal action is very common whenever a company suffers a major public relations blow.
According to US law, listed companies have fiduciary duties to their shareholders. Basically, company executives have a legal obligation to act in the best interests of the company and its investors. Shareholders and company executives tend to interpret it as a legal obligation to maximize the company’s profits, although this is not clearly stipulated by the law.
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The argument in this kind of lawsuit against shareholders is basically: the company did what it shouldn’t do-lies, understatement of risks, made a huge mistake in judgment, etc., as a result, it damaged the company’s public image and countered Coming over hurt investors.
For example, Pinterest shareholders filed a lawsuit against the company earlier this month, claiming that the board of directors failed to fulfill its fiduciary duties because allegations of rampant racial and gender discrimination within the company are damaging the image of its predominantly female user base. Google settled similar shareholder lawsuits in September for handling harassment requests within the company. As early as April, Zoom investors filed a lawsuit over an overnight video conference incident, claiming that the company should have known that its products did not meet specifications before the pandemic broke out.
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