{"id":411259,"date":"2021-01-08T12:18:07","date_gmt":"2021-01-08T17:18:07","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=411259"},"modified":"2021-01-08T12:18:07","modified_gmt":"2021-01-08T17:18:07","slug":"rm-law-announces-class-action-lawsuit-against-cd-projekt-s-a","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/rm-law-announces-class-action-lawsuit-against-cd-projekt-s-a\/","title":{"rendered":"RM LAW Announces Class Action Lawsuit Against CD Projekt S.A."},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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BERWYN, <\/b>Pa.\u00a0<\/b>, Jan. 8, 2021<\/span> \/PRNewswire\/ —\u00a0RM LAW, P.C.<\/a>\u00a0announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased CD Projekt S.A. (“CD Projekt” or the “Company”) (OTC BB: OTGLF, OTGLY) securities during the period from January 16, 2020<\/span> through December 17, 2020<\/span> inclusive (the “Class Period”).<\/p>\n

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CD Projekt shareholders may, no later than February 22, 2021<\/span> move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of CD Projekt and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire<\/span> toll-free at (844) 291-9299 or to sign up online, click here<\/a>.<\/p>\n

The complaint alleges that throughout the Class Period, defendants made false and\/or misleading statements and\/or failed 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 CD Projekt would be forced to offer full refunds for the game; (3) consequently, CD Projekt 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. When the true details entered the market, the lawsuit claims that investors suffered damages.<\/p>\n

On December 14, 2020<\/span>, facing criticisms for delivering an unplayable, bug-ridden product on the current generation video game consoles the Company held a conference call. Following the conference call the Company’s ADRs fell from its close of $27.68<\/span> on December 9, 2020<\/span> to close at $20.75<\/span> on December 14, 2020<\/span>, a drop of $6.93<\/span> or 25% over 3 trading days, damaging investors. Over that same period, CD Projekt’s common share price fell $21.65<\/span> per share, or 20.1% to close at $86.00<\/span> on December 14, 2020<\/span>, damaging investors.<\/p>\n

Then, on December 18, 2020<\/span>, 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.<\/p>\n

On this news, CD Projekt’s ADR price fell $3.44<\/span> per share, or 15.8% to close at 18.40 per ADR on December 18, 2020<\/span>, damaging investors. CD Projekt’s common share price fell $9.20<\/span> per share, or 10.45% to close at $78.80<\/span> on December 18, 2020<\/span>, damaging investors.<\/p>\n

If you are a member of the class, you may, no later than February 22, 2021<\/span> request that the Court appoint you as lead plaintiff of the class.\u00a0 A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. \u00a0In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. \u00a0Under certain circumstances, one or more class members may together serve as “lead plaintiff.” \u00a0Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. \u00a0You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action. <\/p>\n

For more information regarding this, please contact RM LAW, P.C. \u00a0(Richard A. Maniskas, Esquire<\/span>) toll-free at (844) 291-9299 or by email at rm@maniskas.com<\/a>\u00a0or click here<\/a>.\u00a0\u00a0 For more information about class action cases in general or to learn more about RM LAW, P.C. please visit our website by clicking here<\/a>.\u00a0 <\/p>\n

RM LAW, P.C. is a national shareholder litigation firm.\u00a0 RM LAW, P.C. is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.<\/p>\n

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\n RM LAW, P.C.<\/b>
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\n \"Cision\" View original content to download multimedia:http:\/\/www.prnewswire.com\/news-releases\/rm-law-announces-class-action-lawsuit-against-cd-projekt-sa-301203448.html<\/a><\/p>\n

SOURCE RM LAW, P.C.<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire BERWYN, Pa.\u00a0, Jan. 8, 2021 \/PRNewswire\/ —\u00a0RM LAW, P.C.\u00a0announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased CD Projekt S.A. (“CD Projekt” or the “Company”) (OTC BB: OTGLF, OTGLY) securities during the period from January 16, 2020 through December 17, 2020 inclusive (the “Class Period”). CD Projekt shareholders may, no later than February 22, 2021 move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of CD Projekt and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) … <\/p>\n

Continue reading “RM LAW Announces Class Action Lawsuit Against CD Projekt S.A.”<\/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-411259","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nRM LAW Announces Class Action Lawsuit Against CD Projekt S.A. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/rm-law-announces-class-action-lawsuit-against-cd-projekt-s-a\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RM LAW Announces Class Action Lawsuit Against CD Projekt S.A. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire BERWYN, Pa.\u00a0, Jan. 8, 2021 \/PRNewswire\/ —\u00a0RM LAW, P.C.\u00a0announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased CD Projekt S.A. (“CD Projekt” or the “Company”) (OTC BB: OTGLF, OTGLY) securities during the period from January 16, 2020 through December 17, 2020 inclusive (the “Class Period”). CD Projekt shareholders may, no later than February 22, 2021 move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of CD Projekt and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. 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