CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit

The New York Times article on Cyberpunk 2077 mentioned yesterday includes a link a Polish forum post suggesting CD PROJEKT may be facing a class action suit from investors over the bungled launch of Cyberpunk 2077. Here's a machine translation:
My name is Mikołaj Orzechowski, I am a Warsaw attorney and at the same time a CDPR investor. In connection with the recent events - and in particular the suspension of the sale of the CYBERPUNK 2077 product, we are currently analyzing, together with the team of the law firm, the grounds for bringing a class action together with the notification of the possibility of committing an offense under Art. 286 of the Penal Code. - misrepresentation in order to obtain financial benefits. If you are interested in participating in the above, please contact me at mikolaj.orzechowski@4bizzz.com. Contact is absolutely free, my entry is to verify whether to undertake the above activities yourself, or whether there are more people in a situation similar to me. We also prepare material, together with one of the web portals, on the rights of investors, if so clearly,
View : : :
20 Replies. 1 pages. Viewing page 1.
Newer [  1  ] Older
20.
 
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit
Dec 21, 2020, 10:55
20.
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit Dec 21, 2020, 10:55
Dec 21, 2020, 10:55
 
Good to know that the lawyers at 4bizzz.com are on the case.
Avatar 20018
19.
 
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit
Dec 21, 2020, 08:23
19.
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit Dec 21, 2020, 08:23
Dec 21, 2020, 08:23
 
Jonjonz wrote on Dec 21, 2020, 06:31:
Its good to see someone stand up to these gaming corporations when they sell broken goods they know was broken when they shipped it.

Now if only someone would take Steam and GOG to court over knowingly selling games labeled "runs on Windows 10" that won't run at all on Windows 10.

The ones standing up to them are the ones who told them to ship it out early, before it was done.
18.
 
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit
Dec 21, 2020, 06:31
18.
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit Dec 21, 2020, 06:31
Dec 21, 2020, 06:31
 
Its good to see someone stand up to these gaming corporations when they sell broken goods they know was broken when they shipped it.

Now if only someone would take Steam and GOG to court over knowingly selling games labeled "runs on Windows 10" that won't run at all on Windows 10.
"Meet the new Boss, same as the old Boss." - The Who.
Avatar 57379
17.
 
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit
Dec 21, 2020, 06:20
17.
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit Dec 21, 2020, 06:20
Dec 21, 2020, 06:20
 
I thinks this sets a cool precedent and that corporations should be sued by their investors every single time they lose stock value due to corporate greed. It showcases the pinnacle of capitalism and the fairness of the free market economy and is the true representation of how humanity has achieved greatness by the great quest that is the accumulation of wealth at the expense of all other considerations.
Avatar 58327
16.
 
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit
Dec 21, 2020, 04:56
16.
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit Dec 21, 2020, 04:56
Dec 21, 2020, 04:56
 
An investor can argue that they bought or kept shares of CDPR stock on the positive statements of the CEO during an investor call and had this reasonable investor known otherwise, they would have sold off or not purchased additional stock in CDPR if the CEO did not misrepresent the state of the console game and generally the state of the console game. 30% loss of stock value loss after release is not something that investors take lying down:
https://markets.businessinsider.com/stocks/cd_projekt_red-stock?op=1
15.
 
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit
Dec 20, 2020, 22:43
Tom
15.
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit Dec 20, 2020, 22:43
Dec 20, 2020, 22:43
Tom
 
WaltC wrote on Dec 20, 2020, 18:37:
CP2077 isn't a month old, yet. If you are a customer and you don't like the game at all and you get your money back you have not been financially damaged and financial damages must exist if a lawsuit has any hope of collecting.
Ok, so setting aside the lying to investors, who gets to decide what the appropriate window of time is for CDPR to fix this before financial damages are considered to exist?
14.
 
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit
Dec 20, 2020, 18:48
14.
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit Dec 20, 2020, 18:48
Dec 20, 2020, 18:48
 
HorrorScope wrote on Dec 20, 2020, 17:43:
Cutter wrote on Dec 20, 2020, 17:03:
Investors still put pressure on the board to deliver. It's why the actual devs said upper management was tone deaf to their pleas that the game wasn't ready.

And management says to devs... What, we didn't give you enough time already?

More like, 'Too bad, so sad, it ships regardless.'

I saw the same bullshit when I worked EA. So now CDPR has a lost a ton of value and even more goodwill and trusts because of a handful of greedy pricks. This shit never works in their favor and they still fail to get it.
"You have enemies? Good. That means you’ve stood up for something, sometime in your life."
Avatar 25394
13.
 
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit
Dec 20, 2020, 18:37
13.
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit Dec 20, 2020, 18:37
Dec 20, 2020, 18:37
 
Tom wrote on Dec 20, 2020, 17:50:
If management lies on investor calls about the state of the game, and then they botch the launch and have a subsequent stock drop, it's natural that someone is going to try to hold them responsible for those lies. What is weird or ambulance chasey about that?

I think the problem is that generally lawyers are such bald-faced liars themselves that when they accuse others of lying it's "pot calling the kettle black"...;) If this guy is a CDPR investor then he knows perfectly well that suing CDPR will help diminish his investment, however small that might be. It's way too soon to consider a lawsuit for damages, imo. Six months to a year from now would be the time to look at that to see if CDPR has taken the remedial measures called for in order to preserve a dividend for their investors. Witcher 3 is five years old and people are still buying the game--some even at ~$50 a pop, despite the fact that upon its release some people were disappointed! CP2077 isn't a month old, yet. If you are a customer and you don't like the game at all and you get your money back you have not been financially damaged and financial damages must exist if a lawsuit has any hope of collecting.
It is well known that I don't make mistakes--so, if you should happen across an error in something I have written, you can be confident in the fact that *I* did not write it.
Avatar 16008
12.
 
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit
Dec 20, 2020, 17:50
Tom
12.
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit Dec 20, 2020, 17:50
Dec 20, 2020, 17:50
Tom
 
If management lies on investor calls about the state of the game, and then they botch the launch and have a subsequent stock drop, it's natural that someone is going to try to hold them responsible for those lies. What is weird or ambulance chasey about that?
11.
 
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit
Dec 20, 2020, 17:43
11.
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit Dec 20, 2020, 17:43
Dec 20, 2020, 17:43
 
Cutter wrote on Dec 20, 2020, 17:03:
Investors still put pressure on the board to deliver. It's why the actual devs said upper management was tone deaf to their pleas that the game wasn't ready.

And management says to devs... What, we didn't give you enough time already?
Avatar 17232
10.
 
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit
Dec 20, 2020, 17:03
10.
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit Dec 20, 2020, 17:03
Dec 20, 2020, 17:03
 
Investors still put pressure on the board to deliver. It's why the actual devs said upper management was tone deaf to their pleas that the game wasn't ready.
"You have enemies? Good. That means you’ve stood up for something, sometime in your life."
Avatar 25394
9.
 
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit
Dec 20, 2020, 15:40
9.
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit Dec 20, 2020, 15:40
Dec 20, 2020, 15:40
 
Sheesh, how do you say "ambulance chaser" in Polish?

I'd say this is without merit, but then again the Polish legal system seems weird as hell, CDPR had to pay out to the Witcher author awhile back, even though in most countries he would have had no case.
Avatar 54863
8.
 
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit
Dec 20, 2020, 15:38
8.
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit Dec 20, 2020, 15:38
Dec 20, 2020, 15:38
 
ok time to dial down the bullshit, these are terrible ideas
lawyers who are investors that are baiting customers into lawsuits... its all rotten
that wont even work in any other medium for obvious reasons, they had a lot of time to think over, since it was delayed so many times and production was so long
you arent owed anything with a product in store besides few common sense promises, its your decision, all the warning signs are there, backports to older hardware were not remotely as high quality before and they wont be in the future

I also think theres multiple campaigns now to take on CDPR for nonsense reasons, theres been tons of shitty games in the past that were released completely broken and unplayable, by large AAA publishers/developers, nothing came out of that
CDPR is acting like big company because of its success but it really isnt, its franchises are only few games yet its incredibly successful with those games, they still are at the top the guys who started all of this from small store that sold translated versions of games, so far they shown me nothing that indicates they have forgotten that, in fact i am somewhat amazed how good their relationship with the community is compared to many other gaming companies, they seem to be very humble and do everything to keep their promises

Remember Witcher 3 team grow multiple times bigger than its other games during its development, same with Cyberpunk 2077 which probably was the biggest it has ever been since, and pre-production seems to have been half its development time as game was iterated over
multiple times as its vision evolved

This comment was edited on Dec 20, 2020, 15:49.
7.
 
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit
Dec 20, 2020, 15:31
7.
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit Dec 20, 2020, 15:31
Dec 20, 2020, 15:31
 
I would like to take my victory lap because I predicted this when Cyberpunk came out and the stock dropped and when I learned about the lies that the CDPR CEO said during an investor call about the state of the console versions.
6.
 
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit
Dec 20, 2020, 15:17
6.
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit Dec 20, 2020, 15:17
Dec 20, 2020, 15:17
 
Darks wrote on Dec 20, 2020, 14:01:
Hello Kettle, meet pot. That about sums up investors.

Investors, why isn't this game released yet, we want to make money.

Investors, why did you release a game that's not finished, we want our money back.

No sympathy for shareholders who whine about pushing a game out the door to make profit, knowing all to well that he game is not yet ready and then get bit severely in the ass becasue of their stupid greedy decisions. Sit and spin shareholders, you deserve this! Merry Christmas!!!


Yup, they'll take their cut from the record-breaking sales after they demanded it be released before it was ready, then take a cut from the lawsuit when it was released early, but not ready, then hold out their hands for the payouts after the game is fixed and ready.
5.
 
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit
Dec 20, 2020, 14:32
5.
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit Dec 20, 2020, 14:32
Dec 20, 2020, 14:32
 
Pretty sure most "investors" don't get a "say".

The corporate board makes all the decisions. The board "reports" the situation at various stages (usually quarterly) to the investors (aka shareholders). We already know that they we're lying a year ago when they said the game was complete and the devs were questioning that.

Let me put it this way... you add CDPR to your 401k. You avidly attend the quarterly reports...usually a conference call or nowadays a zoom type meeting. They (the board) say they are "on track". You may even boost your investment some due to the hype. Then this shit happens.

Uh yeah... as an "investor", you'd be pissed.

Losing on an investment is a roll of the dice...no doubt. But if the Corporate heads outright lie about status... you have a legal claim.

This fiasco has significantly impacted CDPR's shares. At the time of writing, CD Projekt RED has 100,654,624 shares that're worth $21.31 each. A quick bit of math shows CDPR currently has a market value of $2.14 billion, down 23% since CP2077's release. CD Projekt RED had a $2.7 billion market value on December 9, a day before Cyberpunk 2077's release.
CD Projekt RED loses $641 million in shares over Cyberpunk 2077 mess

Down 23% probably means you lost money in the 401k example, depending on when one invested. A year or so wipe out.

The only people that get to make any "Demands" are people that hold a significant percentage of the company... and usually THEY are on the Board.

I highly doubt this "little attorney in Warsaw" had significant shares and was in any position to make demands that the product be released. He got screwed just like the gamers.

This comment was edited on Dec 20, 2020, 15:27.
Get your games from GOG DAMMIT!
Avatar 19499
4.
 
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit
Dec 20, 2020, 14:25
4.
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit Dec 20, 2020, 14:25
Dec 20, 2020, 14:25
 
Exactly, the same assholes screaming at them to get it out the door for Xmas sales now want to punish the company for their greed. Unreal.
"You have enemies? Good. That means you’ve stood up for something, sometime in your life."
Avatar 25394
3.
 
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit
Dec 20, 2020, 14:16
3.
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit Dec 20, 2020, 14:16
Dec 20, 2020, 14:16
 
Investors should be counter sued for causing the problem in the first place.
- I refer to it as BC, Before Corona, and AD, After Disaster. -
Avatar 58135
2.
 
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit
Dec 20, 2020, 14:05
2.
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit Dec 20, 2020, 14:05
Dec 20, 2020, 14:05
 
Darks wrote on Dec 20, 2020, 14:01:
Hello Kettle, meet pot. That about sums up investors.

Investors, why isn't this game released yet, we want to make money.

Investors, why did you release a game that's not finished, we want our money back.

No sympathy for shareholders who whine about pushing a game to the door to make profit, knowing all to well that he game is not yet ready and then get bit severely in the ass becasue of their stupid greedy decisions. Sit and spin shareholders, you deserve this! Merry Christmas!!!


Yes, I find this sickening. There have been so many bad releases in early history without a percent of the hell that CDPR is in right now. Ridiculous. Hype is the most dangerous fucking thing for developers, it seems.
Avatar 57334
1.
 
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit
Dec 20, 2020, 14:01
1.
Re: CD PROJEKT Facing Possible Cyberpunk 2077 Lawsuit Dec 20, 2020, 14:01
Dec 20, 2020, 14:01
 
Hello Kettle, meet pot. That about sums up investors.

Investors, why isn't this game released yet, we want to make money.

Investors, why did you release a game that's not finished, we want our money back.

No sympathy for shareholders who whine about pushing a game out the door to make profit, knowing all to well that he game is not yet ready and then get bit severely in the ass becasue of their stupid greedy decisions. Sit and spin shareholders, you deserve this! Merry Christmas!!!

Creator of the Neverwnter Nights Eye of the Beholder Series of Mods.

http://www.moddb.com/mods/eye-of-the-beholder-ii-ledgend-of-darkmoon
Avatar 20498
20 Replies. 1 pages. Viewing page 1.
Newer [  1  ] Older