NEW YORK, Dec. 21, 2020 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors who purchased the American Depositary Receipts (“ADRs”) of CD Projekt SA (“CD Projekt” or the “Company”) (OTC: OTGLY).
Reportedly, on January 17, 2020, the Company 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, such as soda cans floating in the air, passers-by walking through characters like ghosts and inexplicable vehicle crashes, among other things.
On December 18, 2020, Bloomberg and other news sources report 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 quoted the Company’s co-CEO Adam Kicinski as 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.”
Following this news, on December 18, 2020, CD Projekt’s ADRs fell $3.49 per share, nearly 16%, to close at $18.50 per ADR.
If you purchased or otherwise acquired CD Projekt’s ADRs and would like to discuss our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this investigation, your rights, or your interests, please contact:
Frederic S. Fox
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: ffox@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com