{"id":410593,"date":"2021-01-07T11:18:41","date_gmt":"2021-01-07T16:18:41","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=410593"},"modified":"2021-01-07T11:18:41","modified_gmt":"2021-01-07T16:18:41","slug":"the-law-offices-of-frank-r-cruz-announces-investigation-of-cd-projekt-s-a-otglf-otgly-on-behalf-of-investors","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-law-offices-of-frank-r-cruz-announces-investigation-of-cd-projekt-s-a-otglf-otgly-on-behalf-of-investors\/","title":{"rendered":"The Law Offices of Frank R. Cruz Announces Investigation of CD Projekt S.A. (OTGLF, OTGLY) on Behalf of Investors"},"content":{"rendered":"

<\/p>\n

The Law Offices of Frank R. Cruz Announces Investigation of CD Projekt S.A. (OTGLF, OTGLY) on Behalf of Investors<\/b><\/p>\n

LOS ANGELES–(BUSINESS WIRE<\/a>)–The Law Offices of Frank R. Cruz<\/a> announces an investigation of CD Projekt S.A. (\u201cCD Projekt\u201d or the \u201cCompany\u201d) (OTC: OTGLF<\/a>, OTGLY<\/a>) on behalf of investors concerning the Company\u2019s possible violations of federal securities laws.\n<\/p>\n

\nIf you are a shareholder who suffered a loss, click here<\/a> to participate.\n<\/p>\n

\nCD Projekt develops and distributes videogames worldwide. Cyberpunk 2077 is an \u201copen world, narrative-driven role-playing game\u201d that was slated to be released in April 2020.\n<\/p>\n

\nOn December 10, 2020, CD Projekt launched Cyberpunk 2077, and consumers discovered that the Current-Generation Console versions of the game were filled with errors and difficult to play. One article stated the game \u201cperforms so poorly that it makes combat, driving, and what is otherwise a master craft of storytelling legitimately difficult to look at.\u201d\n<\/p>\n

\nOn December 14, 2020, the Company held a conference call during which the joint Chief Executive Officer (\u201cCEO\u201d) Adam Michal Kicinski admitted that CD Projekt \u201cunderestimated the scale and complexity of the issues\u201d and \u201cignored the signals about the need for additional time to refine the game on the base last-gen consoles.\u201d\n<\/p>\n

\nFollowing the game\u2019s release, the price of CD Projekt\u2019s American Depositary Receipts (\u201cADRs\u201d) fell $6.93, or 25% over three consecutive trading sessions to close at $20.75 per ADR on December 14, 2020, thereby damaging investors. Over the same period, the price of the Company\u2019s common shares fell $21.65, or 20.1%, to close at $86.00 on December 14, 2020, thereby damaging investors.\n<\/p>\n

\nOn December 18, 2020, Sony and Microsoft issued statements offering refunds for those who had purchased Cyberpunk 2077, citing \u201ca wave of complaints about the long-awaited title.\u201d\n<\/p>\n

\nOn this news, the price of the Company\u2019s ADRs fell $3.44, or 15.8%, to close at $18.50 per ADR on December 18, 2020. The price of the Company\u2019s common share price fell $9.20, or 10.45%, to close at $78.80 on December 18, 2020, thereby damaging investors.\n<\/p>\n

\nFollow us for updates on Twitter: twitter.com\/FRC_LAW<\/a>.\n<\/p>\n

\nIf you purchased CD Projekt securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com<\/a>, or visit our website at www.frankcruzlaw.com<\/a>. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210107005318\/en\/<\/a><\/span><\/p>\n

\nThe Law Offices of Frank R. Cruz, Los Angeles
\n
Frank R. Cruz, 310-914-5007
\n
fcruz@frankcruzlaw.com
\n<\/a>
www.frankcruzlaw.com<\/a><\/p>\n

KEYWORDS:<\/b> California United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The Law Offices of Frank R. Cruz Announces Investigation of CD Projekt S.A. (OTGLF, OTGLY) on Behalf of Investors LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces an investigation of CD Projekt S.A. (\u201cCD Projekt\u201d or the \u201cCompany\u201d) (OTC: OTGLF, OTGLY) on behalf of investors concerning the Company\u2019s possible violations of federal securities laws. If you are a shareholder who suffered a loss, click here to participate. CD Projekt develops and distributes videogames worldwide. Cyberpunk 2077 is an \u201copen world, narrative-driven role-playing game\u201d that was slated to be released in April 2020. On December 10, 2020, CD Projekt launched Cyberpunk 2077, and consumers discovered that the Current-Generation Console versions of the game were filled with errors and difficult … <\/p>\n

Continue reading “The Law Offices of Frank R. Cruz Announces Investigation of CD Projekt S.A. (OTGLF, OTGLY) on Behalf of Investors”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-410593","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nThe Law Offices of Frank R. Cruz Announces Investigation of CD Projekt S.A. 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(\u201cCD Projekt\u201d or the \u201cCompany\u201d) (OTC: OTGLF, OTGLY) on behalf of investors concerning the Company\u2019s possible violations of federal securities laws. If you are a shareholder who suffered a loss, click here to participate. CD Projekt develops and distributes videogames worldwide. Cyberpunk 2077 is an \u201copen world, narrative-driven role-playing game\u201d that was slated to be released in April 2020. On December 10, 2020, CD Projekt launched Cyberpunk 2077, and consumers discovered that the Current-Generation Console versions of the game were filled with errors and difficult … Continue reading "The Law Offices of Frank R. Cruz Announces Investigation of CD Projekt S.A. 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