CD Projekt S.A. (OTGLF,OTGLY)


CD PROJEKT DEADLINE ALERT

Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In CD Projekt To Contact Him Directly To Discuss Their Options

NewMediaWire/ Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against CD Projekt S.A. (“CD Projekt” or the “Company”) (OTCMKTS:OTGLF, OTCMKTS:OTGLY ) and reminds investors of the February 22, 2021 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. 

If you suffered losses exceeding $50,000 investing in CD Projekt stock or options between January 16, 2020 and December 17, 2020 and would like to discuss your legal rights, please call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310) or fill out the form below. 

There is no cost or obligation to you.

Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Delaware, Pennsylvania, California and Georgia.

As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Cyberpunk 2077 was virtually unplayable on the current-generation Xbox or Playstation systems due to an enormous number of bugs; (2) as a result, Sony would remove Cyberpunk 2077 from the Playstation store, and Sony, Microsoft and the Company would be forced to offer full refunds for the game; (3) consequently, the Company would suffer reputational and pecuniary harm; and (4) 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.

Specifically, on December 14, 2020, facing criticisms for delivering an unplayable, bug-ridden product on the Consoles, the Company held a conference call. During the call, Defendant Kicinski called the Current-Generation Console versions “way below our expectations.”

During that same call, Defendant Nielubowicz stated “we definitely did not spend enough time looking at that,” when referring to issues with the Current Generation Console versions.

Following the release, the Company’s ADRs fell from its close of $27.68 on December 9, 2020 to close at $20.75 on December 14, 2020, a drop of $6.93 or 25% over 3 trading days, damaging investors. Over that same period, CD Projekt’s common share (OTGLF) price fell $21.65 per share, or 20.1%, to close at $86.00 on December 14, 2020, damaging investors.

Then, on December 18, 2020, Sony issued a statement via the Playstation website that it would “offer a full refund for all gamers who have purchased Cyberpunk 2077 via PlayStation Store” and “be removing Cyberpunk 2077 from PlayStation Store until further notice.” Microsoft also announced that it would offer refunds for the game. 

That same day, the Company stated that Sony’s decision to “temporarily suspend” sales of the game came after a discussion with the Company. 

On this news, CD Projekt’s ADR (OTGLY) price fell $3.44 per share, or 15.8%, to close at $18.50 per ADR on December 18, 2020, damaging investors. CD Projekt’s common share (OTGLF) price fell $9.20 per share, or 10.45%, to close at $78.80 on December 18, 2020, damaging investors.
 

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CD Projekt S.A.

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Details

Filed on 12/22/2020

Ticker OTCMKTS:OTGLF, OTCMKTS:OTGLY

Class period 01/16/2020 - 12/17/2020

Office

685 Third Avenue 26th Floor

10017 New York, New York

Phone (212) 983-9330

Fax (212) 983-9331

Counsel

Robert W. Killorin rkillorin@faruqilaw.com Phone (404) 847-0617 Fax (404) 506-9534

James M. Wilson, Jr. jwilson@faruqilaw.com Phone (212) 983-9330 Fax (212) 983-9331

Finding us

Our Offices


Our offices are nationwide. If you have any questions about a case or our firm, please contact us.

New York

685 Third Avenue 26th Floor
New York, New York 10017
(212) 983-9330
(877) 247-4292
(212) 983-9331

California

10866 Wilshire Boulevard Suite 1470
Los Angeles, California 90024
(424) 256-2884
(424) 256-2885

Delaware

3828 Kennett Pike Suite 201
Wilmington, Delaware 19807
(302) 482-3182
(302) 482-3612

Georgia

3975 Roswell Rd Suite A
Atlanta, Georgia 30342
(404) 847-0617
(404) 506-9534

Pennsylvania

1617 JFK Boulevard, Suite 1550
Philadelphia, Pennsylvania 19103
(215) 277-5770
(215) 277-5771

Faruqi & Faruqi office in New York, New York

Faruqi & Faruqi office in Los Angeles, California

Faruqi & Faruqi office in Wilmington, Delaware

Faruqi & Faruqi office in Atlanta, Georgia

Faruqi & Faruqi office in Philadelphia, Pennsylvania