Lawsuit filed for Investors in shares of CD Projekt S.A. (OTGLY, OTGLF)

An investor, who purchased shares of CD Projekt S.A. (OTGLY, OTGLF), filed a lawsuit over alleged violations of Federal Securities Laws by CD Projekt S.A..

Investors who purchased shares of CD Projekt S.A. (OTGLY, OTGLF) have certain options and for certain investors are short and strict deadlines running. Deadline: February 22, 2021. OTGLY, OTGLF investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Poland based CD Projekt S.A., through its subsidiaries, engages in the development and digital distribution of videogames worldwide. CD Projekt S.A. reported that its annual Total Revenue rose from $362.9 million in 2018 to $522.3 million in 2019, and that its EBIT increased from $123.16 million in 2018 to $189.74 million in 2019.

On December 18, 2020, Market Insider reported that "Sony announced on Friday that 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." The Market Insider report also quoted the Company's co-CEO stating during an analyst call that "[a]fter three delays, we were too focused on releasing the game," and "[w]e ignored signals about the need for additional time to refine the game on the base last-gen consoles."

Shares of CD Projekt S.A. declined from $31.56 per share on December 4, 2020, to as low as $17.35 per OTGLY share, respectively $120.05 per share on December 7, 2020 to as low as $69.52 per OTGLF share.

The plaintiff claims that between January 16, 2020 and December 17, 2020, the defendants made false and/or misleading statements and/or failed to disclose that Cyberpunk 2077 was virtually unplayable on the current-generation Xbox or Playstation systems due to an enormous number of bugs, that as a result, Sony would remove Cyberpunk 2077 from the Playstation store, and Sony, Microsoft and CD Projekt would be forced to offer full refunds for the game, that consequently, CD Projekt would suffer reputational and pecuniary harm, and that as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of CD Projekt S.A. (OTGLY, OTGLF) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.