SameTeem
Search titles only
By:
Log in
Register
What's new
Search
Search
Search titles only
By:
Home
Forums
Forums
New posts
Search forums
Streams
Streams
Multi-Viewer
Games
What's new
Media
Resources
Free TeamSpeak Channel
TeamSpeak
TeamSpeak
Vote
Rank System
Make a Channel
Free Channel Information
Servers
Sourcebans
New posts
SameTeem
Home
Forums
New posts
Search forums
Streams
Multi-Viewer
Games
What's new
Media
Resources
Free TeamSpeak Channel
TeamSpeak
Vote
Rank System
Make a Channel
Free Channel Information
Servers
Sourcebans
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Navigation
Install the app
Install
More options
Change style
Contact us
Close Menu
Download TeamSpeak Today
Proudly sponsored by TeamSpeak
Forums
News and Announcements
Gaming News
Cyberpunk 2077 Developer CD Projekt Settles With Unhappy Investors For $1.85m
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Admin" data-source="post: 54518" data-attributes="member: 1"><p>Cyberpunk 2077 developer CD Projekt Red has reportedly reached a settlement with a number of unhappy investors who had issued complaints after the game's disastrous launch last year.</p><p></p><p></p><p>Earlier this year, it was reported that the developer was facing four <a href="https://www.ign.com/articles/cyberpunk-2077-second-lawsuit-cd-projekt" target="_blank">lawsuits from investors</a> following the turbulent launch of Cyberpunk 2077. As reported by <a href="https://www.theverge.com/2021/12/16/22839181/cyberpunk-2077-cd-projekt-1-85-million-proposed-class-action-settlement" target="_blank">The Verge</a>, CD Projekt Red has now moved to settle the lawsuits, which have rolled into one larger suit, and in doing so appears set to pay out around $1.85 million dollars to resolve the issue.</p><p></p><p></p><p>As per a document shared by The Verge, details surrounding the negotiations have now been outlined - though these will likely still need to be looked over by a court. “Members of the class (including the plaintiffs) shall relinquish any and all claims against the company and members of its management board," reads a passage in the document. "In return, a settlement in the amount of 1,850,000 USD shall be paid out to the class by the Company and its insurer.”</p><p></p><p></p><p>The lawsuits in question were brought forward earlier this year after shareholders believed they had been misled by the developer over the game's performance on Xbox One and PlayStation 4. Upon launch, the game featured a particularly broken run on last-gen consoles and was subsequently <a href="https://www.ign.com/articles/sony-removing-cyberpunk-2077-from-ps-store-will-offer-refunds-to-playstation-players-who-already-bought-it" target="_blank">removed for a period of time from the PlayStation store</a> - with <a href="https://www.ign.com/articles/cdpr-issued-some-30000-refunds-for-cyberpunk-2077" target="_blank">30,000 refunds also being issued to players</a> upon request.</p><p></p><p></p><p>The first lawsuit filed by investors alleged that CD Projekt had "made false and/or misleading statements" and/or failed to disclose that "Cyberpunk 2077 was <a href="https://www.ign.com/articles/cyberpunk-2077-for-xbox-one-and-playstation-4-review" target="_blank">virtually unplayable on the current-generation Xbox or PlayStation systems</a> due to an enormous number of bugs."</p><p></p><p>Despite having to pay out almost $2 million to its investors, that figure seemingly pales in comparison to how much the studio made across game sales during 2020, which <a href="https://www.videogameschronicle.com/news/cd-projekt-suggests-only-a-small-percentage-of-players-asked-it-for-a-cyberpunk-refund/" target="_blank">VGC reports</a> as around $563 million. While the studio will likely be hoping that it can finally turn a fresh page on the game's controversy, that won't necessarily have been helped by <a href="https://www.ign.com/articles/keanu-reeves-never-played-cyberpunk-2077-cd-projekt" target="_blank">Keanu Reeves recent comments suggesting that he's never actually played Cyberpunk</a>, despite previous confirmation from CD Projekt itself that he loved playing the game.</p><p></p><p>For more on Cyberpunk 2077, make sure to check out this article detailing how <a href="https://www.ign.com/articles/keanu-reeves-mod-cyberpunk-2077-sex" target="_blank">Reeves thinks that it's nice people tried to mod the game so that they could have sex with him.</a></p><p></p><p></p><p><em>Jared Moore is a freelance writer for IGN. You can follow him on </em><a href="https://twitter.com/JaredLiamMoore" target="_blank">Twitter</a>.</p><p></p><p><a href="https://www.ign.com/articles/cyberpunk-2077-developer-cd-projekt-settles-unhappy-investors-185m" target="_blank">Continue reading...</a></p></blockquote><p></p>
[QUOTE="Admin, post: 54518, member: 1"] Cyberpunk 2077 developer CD Projekt Red has reportedly reached a settlement with a number of unhappy investors who had issued complaints after the game's disastrous launch last year. Earlier this year, it was reported that the developer was facing four [URL='https://www.ign.com/articles/cyberpunk-2077-second-lawsuit-cd-projekt']lawsuits from investors[/URL] following the turbulent launch of Cyberpunk 2077. As reported by [URL='https://www.theverge.com/2021/12/16/22839181/cyberpunk-2077-cd-projekt-1-85-million-proposed-class-action-settlement']The Verge[/URL], CD Projekt Red has now moved to settle the lawsuits, which have rolled into one larger suit, and in doing so appears set to pay out around $1.85 million dollars to resolve the issue. As per a document shared by The Verge, details surrounding the negotiations have now been outlined - though these will likely still need to be looked over by a court. “Members of the class (including the plaintiffs) shall relinquish any and all claims against the company and members of its management board," reads a passage in the document. "In return, a settlement in the amount of 1,850,000 USD shall be paid out to the class by the Company and its insurer.” The lawsuits in question were brought forward earlier this year after shareholders believed they had been misled by the developer over the game's performance on Xbox One and PlayStation 4. Upon launch, the game featured a particularly broken run on last-gen consoles and was subsequently [URL='https://www.ign.com/articles/sony-removing-cyberpunk-2077-from-ps-store-will-offer-refunds-to-playstation-players-who-already-bought-it']removed for a period of time from the PlayStation store[/URL] - with [URL='https://www.ign.com/articles/cdpr-issued-some-30000-refunds-for-cyberpunk-2077']30,000 refunds also being issued to players[/URL] upon request. The first lawsuit filed by investors alleged that CD Projekt had "made false and/or misleading statements" and/or failed to disclose that "Cyberpunk 2077 was [URL='https://www.ign.com/articles/cyberpunk-2077-for-xbox-one-and-playstation-4-review']virtually unplayable on the current-generation Xbox or PlayStation systems[/URL] due to an enormous number of bugs." Despite having to pay out almost $2 million to its investors, that figure seemingly pales in comparison to how much the studio made across game sales during 2020, which [URL='https://www.videogameschronicle.com/news/cd-projekt-suggests-only-a-small-percentage-of-players-asked-it-for-a-cyberpunk-refund/']VGC reports[/URL] as around $563 million. While the studio will likely be hoping that it can finally turn a fresh page on the game's controversy, that won't necessarily have been helped by [URL='https://www.ign.com/articles/keanu-reeves-never-played-cyberpunk-2077-cd-projekt']Keanu Reeves recent comments suggesting that he's never actually played Cyberpunk[/URL], despite previous confirmation from CD Projekt itself that he loved playing the game. For more on Cyberpunk 2077, make sure to check out this article detailing how [URL='https://www.ign.com/articles/keanu-reeves-mod-cyberpunk-2077-sex']Reeves thinks that it's nice people tried to mod the game so that they could have sex with him.[/URL] [I]Jared Moore is a freelance writer for IGN. You can follow him on [/I][URL='https://twitter.com/JaredLiamMoore']Twitter[/URL]. [url="https://www.ign.com/articles/cyberpunk-2077-developer-cd-projekt-settles-unhappy-investors-185m"]Continue reading...[/url] [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
News and Announcements
Gaming News
Cyberpunk 2077 Developer CD Projekt Settles With Unhappy Investors For $1.85m
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…
Top