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CD Projekt SA, the Polish video game publisher of Cyberpunk 2077, was sued by an investor who claims the company misled him about the potential of the bug-ridden game whose failed launch this month sent the stock plunging.
Andrew Trampe sued Thursday in federal court in Los Angeles and seeks to represent other investors who bought the company’s securities.
CD Projekt did not disclose that Cyberpunk 2077 was “virtually unplayable on current-generation Xbox or PlayStation systems due to an enormous amount of bugs,” according to the complaint. As a result, Sony. removed Cyberpunk 2077 from the PlayStation and Sony store, Microsoft. and the company was forced to offer full refunds for the game, according to the complaint.
The company’s US deposit receipts fell 25 percent in the three days after Cyberpunk 2077 launched on December 10. They fell another 16 percent after Sony removed the game from its PlayStation store on December 18.
Representatives for CD Projekt did not respond to an emailed request for comment, sent outside of normal business hours.
Last week, the studio said it sold 13 million copies of its troublesome game Cyberpunk 2077 by December 20, a figure that takes into account the number of refund requests the company has received.
The study’s expected sales update does not include information on the rebate scale itself, it only provides the number of net sales. Cyberpunk was so riddled with glitches that Sony pulled the title off its PlayStation store while Microsoft offered full refunds for Xbox users.
“This figure represents the estimated volume of retail sales on all hardware platforms (taking into account returns sent by retail customers in both physical and digital stores), that is, the figure for ‘direct sale’, minus all requests refund e -shipped directly to the company, “CD Projekt said in a regulatory filing Tuesday.
The sales figure amounts to about half the 12-month sales forecast in a Bloomberg survey of nine analysts, which was taken before Sony pulled the game from its store. The game had more than 8 million pre-orders prior to its debut on December 10, prompting an online outcry from players frustrated over its poor performance and a drop in CD Projekt’s share price.
© 2020 Bloomberg LP
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