LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of CD Projekt S.A. (“CD Projekt” or “the Company”) (OTC: OTGLY, OTGLF) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Market Insider reported on CD Projekt’s “Cyberpunk 2077” game launch on December 18, 2020. According to the report, “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 report quotes the Company’s co-CEO as saying during an analyst call that “after three delays, we were too focused on releasing the game,” and “we ignored signals about the need for additional time to refine the game on the base last-gen consoles.” Based on this news, CD Projekt’s American depositary share (“ADS”) price dropped 15% on the same day.
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