NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against CD Projekt S.A. (Other OTC: OTGLY) on behalf of CD Projekt stockholders. Our investigation concerns whether CD Projekt has violated the federal securities laws and/or engaged in other unlawful business practices.
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On January 17, 2020, CD Projekt announced a five-month delay in the launch of its videogame Cyberpunk 2077 from April 2020 to September 2020 but tweeted that the “game is complete and playable.” Cyberpunk 2077 was finally released on December 10, 2020 and immediately became the subject of reports by players that Cyberpunk 2077 was defective due to numerous bugs and problems.
Then, on December 18, 2020, Bloomberg reported that Sony had announced it was pulling Cyberpunk 2077 from its PlayStation Store and offering full refunds to players following a wave of complaints about the long-awaited title. In a Twitter post the same day, the Company said that “following our discussion with PlayStation, a decision was made to temporarily suspend digital distribution” of the game. Market Insider also reported on CD Projekt’s “Cyberpunk 2077” game launch on December 18, 2020. The report quotes the Company’s co-CEO as saying during an analyst call that “after three delays, we were too focused on releasing the game,” and “we ignored signals about the need for additional time to refine the game on the base last-gen consoles.”
On this news, the Company’s stock fell, over two trading sessions, from $88.00 per share on December 17, 2020 to $71.00 on December 21, 2020: a $17.00 or 19.32% drop.
If you purchased or otherwise acquired CD Projekt shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
