CD Projekt Red, the developer of the game Cyberpunk 2077, has reached a settlement of $1.85 million as part of a class action lawsuit by investors. The federal judge in California approved the settlement between CD Projekt Red (CDPR) and the class action lawsuit led by plaintiff Andrew Trampe and two law firms.
Misleading Statements
All persons who purchased CDPR securities in the public market in 2020 are eligible for the settlement fund of approximately $0.49 per share. The original lawsuit, filed in December 2020, accused the Polish developer of deceiving investors and customers in the run-up to the release of Cyberpunk 2077 about the readiness of the game for the then current consoles PlayStation 4 and Xbox One.
CDPR is said to have made "substantially false and misleading" statements in the run-up to the release, even though the company should have been aware of the numerous errors in the game on the current console generation.
