CD Projekt has reached a settlement in the Cyberpunk 2077 class action lawsuit after investors sued the company due to the unsuccessful launch of the time.
Last year, the PS4 and Xbox One versions of Cyberpunk 2077 were mostly unplayable when the game made its debut.
As part of the agreement, the company will pay out $1.85 million.
“In the framework of negotiations concerning a potential settlement agreement in a case pending before the US District Court for the Central District of California (hereinafter referred to as “the Court”), a proposal regarding key terms, which – if agreed upon – would provide the basis for a prospective written settlement agreement was officially formulated on 7 December 2021. According to these terms, members of the class (including the plaintiffs) would relinquish all claims against the Company and members of its Management Board. Furthermore, under the agreement, a settlement in the amount of 1 850 000 (one million eight hundred and fifty thousand) USD would be paid out to the class by the Company and its insurer – Colonnade Insurance S.A.”
Perhaps the most important piece of information about the settlement says the following:
“As expressly stated in the Term Sheet, execution of the Term Sheet does not imply admission of any responsibility on the part of the Company or any of the other defendants named in the case.”
This agreement benefits shareholders and not the customers who purchased the PS4 and Xbox One versions of the game.
[Source]: CD Projekt: Current report no. 45/2021 – CD PROJEKT – [Archive].
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