WARSAW, Poland — The developer of their latest game Cyberpunk 2077 may have more issues than a buggy, unfinished game to deal with. Amidst a large flurry of refund demands, CD Projekt Red and parent company CD Projekt may have must bigger issues to tackle.
Lawsuit could have CD Projekt in trouble with the SEC
Video Games Chronicle reports that multiple law firms and a CD Projekt investor are pondering a class-action lawsuit. The grounds for the potential suit: misrepresentations stated by the company. Another issue could have implications in the U.S. with the Securities and Exchange Commission (SEC).
The developer is being accused of breaking SEC rules. The rule in question: that it’s unlawful to operate “as a fraud or a deceit upon any person” during security transactions.
The potential lawsuit could see investors taking aim at the company. It would not target the customers who bought the game. However, it is not a huge surprise, given the massive drop in share value late last week. Several executives and co-founders reportedly lost over $1 billion in stock value since the game’s launch.
Not enough development time for ‘Cyberpunk’
CD Projekt would admit that they did not give enough development time for the PS4 and Xbox One versions of the game prior to their December 10 release. Nothing regarding gameplay would emerge from these versions prior to the launch.
Reports state the games run poorly on those platforms. The issues range from frequent frame rate drops to stability issues. However, it’s not necessarily a polished product on PC either.
It remains to be seen how the game will appear in the next-gen PS5 and Xbox Series X/S consoles. Those versions will not be available until sometime next year.
Microsoft, Sony offering full refunds; Best Buy, CD Projekt doing the same
As reported in our Gaming Week In Review, both Microsoft and Sony are offering full refunds for the digital versions of the game. Additionally, CD Projekt and Best Buy are going the same.
However, for those seeking a refund on their physical copy, the deadline is tomorrow, December 21.
For more entertainment and gaming news, follow Jake Leonard on Twitter @JakeLeonardWPMD and Heartland Newsfeed @HLNF_Bulletin on Twitter.
Additionally, you can follow Heartland Newsfeed on Facebook and Reddit among other platforms. You can now follow our news updates on Telegram, Flote, and MeWe.
Support independent journalism. Become a patron on Patreon for as little as $1 a month. There are other donor options as well.
Jake Leonard, a broadcast media and journalism veteran, is the editor-in-chief of Heartland Newsfeed. Leonard is also GM and program director of Heartland Newsfeed Radio Network, wrestling editor and contributing writer for Ambush Sports, a contributing writer for My Sports Vote and Midwest Sports Network, and a former contributor to Bleacher Report and Overtime Heroics. He resides at home in Nokomis, Ill. with his dog Buster.
Discussion about this post