CD Projekt Sued Over Alleged Cyberpunk Lies! Let's Read The Lawsuit! (VL379)

The release of CD Projekt Red's Cyberpunk 2077 has resulted in what was quickly becoming inevitable: a class action lawsuit.

But what did CDPR know and when did they know it?

Why is the filed complaint not likely to be indicative of what CDPR is really facing?

And just why are lawyers always in such a hurry to file these kind of actions anyway? (Hint: The answer is 'money'.)

Let's dive in.

Yeah, that's a 'BINGO'...in Virtual Legality.

CHECK OUT THE VIDEO AT: https://youtu.be/_qXytLM4Gv8

#Cyberpunk2077 #CDPR #Lawsuit

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Discussed in this episode:

"CD Projekt, CDPR, and Cyberpunk 2077: We Have a Reputation to Burn"
YouTube Playlist - Hoeg Law
https://www.youtube.com/playlist?list=PL1zDCgJzZUy8QxfJHOJGH8UsiYOqjwhq3

"Cyberpunk 2077: Will CD Projekt (CDPR) be Sued for Fraud? (VL376)"
YouTube Video - December 21, 2020 - Hoeg Law
https://youtu.be/m-0RdPRpxqs

"Employment of manipulative and deceptive devices."
Rule 10b-5
https://ecfr.federalregister.gov/current/title-17/chapter-II/part-240/subpart-A/subject-group-ECFR271f57d9adc8b47/section-240.10b-5

Form of CDPR Lawsuit
The Rosen Law Firm
https://www.rosenlegal.com/media/casestudy/2267_Cd%20Projekt%20-%20Complaint%204849-9033-8517%20v.1.pdf

CDPR Lawsuit
As filed December 24, 2020
https://www.scribd.com/document/489078061/Cyberpunk-2077-class-action-via-Polygon

"US Securities Class Actions: A Guide to the Initial Stages"
JD Supra - May 27, 2020
https://www.jdsupra.com/legalnews/us-securities-class-actions-a-guide-to-65994/

"Private securities litigation"
15 USC 78u-4
https://www.law.cornell.edu/uscode/text/15/78u-4

"We have important news..."
Tweet - January 16, 2020 - CD Projekt Red
https://twitter.com/CDPROJEKTRED/status/1217861009446182912

"CDPR's Cyberpunk Damage Control Call: Corpos Searching for Answers (VL371)"
YouTube Video - December 15, 2020 - Hoeg Law
https://youtu.be/n7uzzQ7SV-0

CDPR Cyberpunk Launch Teleconference Transcript
December 14/15, 2020
https://www.cdprojekt.com/en/wp-content/uploads-en/2020/12/call-transcript_en.pdf

"Liability of controlling persons and persons who aid and abet violations"
15 USC 78(t) (Exchange 20(a))
https://www.law.cornell.edu/uscode/text/15/78t

"Estimating Recoverable Damages in Rule 10b-5 Securities Class Actions"
Cornerstone Research
https://www.cornerstone.com/Publications/Reports/Estimating-Recoverable-Damages-in-Rule-10b-5-Securities-Class-Actions

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"Virtual Legality" is a continuing series discussing the law, video games, software, and everything digital, hosted by Richard Hoeg, of the Hoeg Law Business Law Firm (Hoeg Law).

CHECK OUT THE REST OF VIRTUAL LEGALITY HERE:
https://www.youtube.com/playlist?list=PL1zDCgJzZUy9YAU61GoW-00K0TJOGnPCo

DISCUSSION IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT TO BE CONSTRUED AS LEGAL ADVICE. INDIVIDUALS INTERESTED IN THE LEGAL TOPICS DISCUSSED IN THIS VIDEO SHOULD CONSULT WITH THEIR OWN COUNSEL.

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