CD Projekt Red Settles Investor Lawsuit for $1.85 Million
A lawsuit filed on behalf of CD Projekt Red investors has reached a settlement after the turbulent launch of their game Cyberpunk 2077. According to reports, CDPR will pay a fraction of the original damages, providing much lower compensation than initially expected.
The Lawsuit and Its Claims
In December 2020, the Rosen Law Firm filed a lawsuit in response to Cyberpunk 2077’s release, stating that the game was virtually unplayable on certain consoles. The lawsuit also argued that the game’s launch negatively affected investors, leading to a decline in the company’s stock value.
Surprisingly Low Settlement Amount
A consultant for the plaintiffs estimated potential damages to be around $11 million. However, the settlement has been finalized for only $1.85 million, resulting in roughly $0.49 compensation per eligible stock share of CDPR.
The Fallout and the Game’s Resurgence
Cyberpunk 2077’s troubled launch became another example of a game that struggled initially but gradually recovered over time. The game faced numerous technical issues, received poor reviews, led to refunds, and was even removed from the PlayStation store for six months.
However, over the past two years, the game has experienced a remarkable resurgence in both sales and acclaim, particularly in 2022. CDPR’s dedication to consistently updating the game earned them the “Labor of Love” award from the Steam Awards. It also became one of the most played games on the Steam platform in the past year.
Future Plans for the Game
CDPR has had to adjust its plans for Cyberpunk 2077’s future due to its tumultuous journey. While the multiplayer component has been put on hold, the developers are moving forward with the highly anticipated expansion called Phantom Liberty. They also have plans for a sequel in the coming years.
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