Victory for investors in court
Polish company CD Projekt, whose subsidiary CD Projekt RED developed the video game Cyberpunk 2077, will pay them $1.85 million in settlements with investors who sued it last December to drop their claims. This was announced by CD Projekt's press office on Thursday.
The company specified that its representatives have completed negotiations with the plaintiffs on the settlement of the legal dispute on December 15. Under the agreement, the plaintiffs will give up their claims against CD Projekt and its board, while the Polish firm and its insurer Colonnade Insurance S. A. will pay them $1.85 million.
A proposal for the key terms of a settlement agreement to end the dispute was formulated on December 7. CD Projekt expects it will take several months for the court to approve the agreements reached by the parties.
A group of investors sued CD Projekt in a class action lawsuit in California, USA late last year for the latter's alleged failure to inform them of technical problems when launching Cyberpunk 2077 on the PlayStation 4 and Xbox One game consoles. Sony then temporarily removed the game from the Sony PlayStation Store online shop and offered users a refund for the copies purchased, resulting in losses for CD Projekt and its investors.
According to the developers, the budget for Cyberpunk 2077, released last December, was PLN 1.2 billion ($293 million). At the same time, more than 13.7 million copies of the game were sold in 2020, and CD Projekt's consolidated net profit last year on revenues of PLN 2.13 billion ($520 million) was 1.15 billion ($281 million).
