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Cyberpunk 2077 publisher CD Projekt SA plans to defend itself “vigorously” against the claims raised in a class action lawsuit, Bloomberg reported.
What happened: Andrew Trampe, an investor, filed a lawsuit in federal court in Los Angeles on Thursday, alleging that the video game developer misled investors about the condition of the game and possible technical failures that led to losses.
According to the court record, the plaintiff claims that CD Projekt failed to warn investors that Cyberpunk 2077 was “virtually unplayable on current-generation Xbox or Playstation systems due to a massive amount of bugs.”
The video game developer promised to defend itself against “such claims.”
Because it is important: Sony Corp (NYSE: SNE) remote the long-awaited game from the PlayStation Store on December 18 and offered full refunds to everyone who had purchased it.
Shares of CD Projekt SA’s American Depositary Receipt fell 25% in the following three days after the game’s launch on December 10. They fell another 16% after Sony’s announcement.
Users began complaining about glitches and bugs in the game within hours of its official release, according to Bloomberg.
Microsoft Corporation (NASDAQ: MSFT) too started offering refunds for the game, but has not yet removed it from the Microsoft store.
Price action: Shares in Sony fell 0.60% to close at $ 96.26 in after-hours trading on Thursday.
Microsoft was trading at $ 222.51, down 0.11% at the close of the post-market session on Thursday.
Image: Courtesy of Cyberpunk 2077
© 2020 Benzinga.com. Benzinga does not offer investment advice. All rights reserved.
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