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Cyberpunk 2077 hit with class action lawsuit – Tom's Guide

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The sorry state of Cyberpunk 2077 has already hit developer CD Projekt Red in the wallet with Sony allowing no-questions-asked returns of PS4 copies, but the financial damage might be about to get that bit more painful for the company.

On Christmas Eve, investor Andrew Trampe filed a lawsuit against CD Projekt Red seeking unspecified damages, arguing that the company made “false and/or misleading” statements about the game, at various points overselling how finished the title was, and underplaying the volume of bugs. 

The claim argues that the game “was virtually unplayable on the current generation Xbox or PlayStation systems due to an enormous number of bugs” which led to the company suffering “reputational and pecuniary harm.”

The evidence for the claim is a series of quotes allegedly taken verbatim from developer announcements and investor calls. In one conference call in November, for example, the company is quoted as acknowledging the existence of bugs but reportedly stated that “we believe that the level will be as low as to let gamers not see them.” The suit also highlights that CD Projekt Red labeled the game as “complete and playable” back in January 2020, before pushing it back a number of times.

A press release accompanying the lawsuit from Rosen Law Firm requests that investors interested in joining the class action lawsuit contact the firm, which specializes in “global investor rights” no later than February 22, 2021.

It continues to be what can only be described as a ‘rocky’ first month for Cyberpunk 2077. While the experience differs dramatically depending on the version you’re playing (the PC edition is comparatively low on bugs, while playing last-gen versions on next-gen hardware reduces the console version’s performance issues), the company has acknowledged that there is more work to do, with major patches pledged for the next few months. 

The first of these – version 1.06 – arrived a few days ago, and should ensure “improved memory management and stability, resulting in fewer crashes” on your console. It also includes a fix for a nasty PC bug where exceeding 8MB save files would lose all progress, though it doesn’t rescue saved games that were already rendered unplayable, alas. 

Not all bugs are as game breaking as that one, of course. Some are just plain entertaining

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Britain in talks with 6 firms about building gigafactories for EV batteries

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Britain is in talks with six companies about building gigafactories to produce batteries for electric vehicles (EV), the Financial Times reported on Wednesday, citing people briefed on the discussions.

Car makers Ford Motor Co and Nissan Motor Co Ltd, conglomerates LG Corp and Samsung, and start-ups Britishvolt and InoBat Auto are in talks with the British government or local authorities about locations for potential factories and financial support, the report added .

 

(Reporting by Kanishka Singh in Bengaluru; Editing by Himani Sarkar)

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EBay to sell South Korean unit for about $3.6 billion to Shinsegae, Naver

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EBay will sell its South Korean business to retailer Shinsegae Group and e-commerce firm Naver for about 4 trillion won ($3.6 billion), local newspapers reported on Wednesday.

EBay Korea is the country’s third-largest e-commerce firm with market share of about 12.8% in 2020, according to Euromonitor. It operates the platforms Gmarket, Auction and G9.

Shinsegae, Naver and eBay Korea declined to comment.

Lotte Shopping had also been in the running, the Korea Economic Daily and other newspapers said, citing unnamed investment banking sources.

South Korea represents the world’s fourth largest e-commerce market. Driven by the coronavirus pandemic, e-commerce has soared to account for 35.8% of the retail market in 2020 compared with 28.6% in 2019, according to Euromonitor data.

Shinsegae and Naver formed a retail and e-commerce partnership in March by taking stakes worth 250 billion won in each other’s affiliates.

($1 = 1,117.7000 won)

 

(Reporting by Joyce Lee; Editing by Edwina Gibbs)

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Canada launches long-awaited auction of 5G spectrum

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Canada is set to begin a hotly anticipated auction of the mobile telecommunications bandwidth necessary for 5G rollout, one that was delayed more than a year by the pandemic.

The 3,500 MHz is a spectrum companies need to provide 5G, which requires more bandwidth to expand internet capabilities.The auction, initially scheduled for June 2020, is expected to take several weeks with Canadian government selling off 1,504 licenses in 172 service areas.

Smaller operators are going into the auction complaining that recent regulatory rulings have further tilted the scales in the favour of the country’s three biggest telecoms companies – BCE, Telus and Rogers Communications Inc – which together control around 90% of the market as a share of revenue.

Canadian mobile and internet consumers, meanwhile, have complained for years that their bills are among the world’s steepest. Prime Minister Justin Trudeau’s Liberal government has threatened to take action if the providers did not cut bills by 25%.

The last auction of the 600 MHz spectrum raised C$3.5 billion ($2.87 billion) for the government.

The companies have defended themselves, saying the prices they charge are falling.

Some 23 bidders including regional players such as Cogeco and Quebec’s Videotron are participating in the process. Shaw Communications did not apply to participate due to a $16 billion takeover bid from Rogers. Lawmakers and analysts have warned that market concentration will intensify if that acquisition proceeds.

In May, after Canada‘s telecoms regulator issued a ruling largely in favour of the big three on pricing for smaller companies’ access to broadband networks, internet service provider TekSavvy Inc withdrew from the auction, citing the decision.

Some experts say the government has been trying to level the playing field with its decision to set aside a proportion of spectrum in certain areas for smaller companies.

Gregory Taylor, a spectrum expert and associate professor at the University of Calgary, said he was pleased the government was auctioning off smaller geographic areas of coverage.

In previous auctions where the license covered whole provinces, “small providers could not participate because they could not hope to cover the range that was required in the license,” Taylor said.

Smaller geographic areas mean they have a better chance of fulfilling the requirements for the license, such as providing service to 90% of the population within five years of the issuance date.

The auction has no scheduled end date, although the federal ministry in charge of the spectrum auction has said winners would be announced within five days of bidding completion.

($1 = 1.2181 Canadian dollars)

 

(Reporting by Moira Warburton in Vancouver; Editing by David Gregorio)

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