i have the same problem i′v updated the grafik driver and directx nothing help here the last launchlog
[0000.12] Log: Log file open, 06/04/11 06:48:53
[0000.12] Log: ... running in INSTALLED mode
[0000.12] Init: Computer: HOSHI-PC
[0000.12] Init: User: Hoshi
[0000.12] Init: CPU Page size=4096, Processors=8
[0000.12] Init: High frequency timer resolution =3.259316 MHz
[0000.12] Init: Memory total: Physical=24.0GB Pagefile=48.0GB Virtual=4.0GB
[0000.12] Init: WinSock: version 1.1 (2.2), MaxSocks=32767, MaxUdp=65467
[0000.15] Init: WinSock: I am Hoshi-PC (192.168.178.20:0)
[0000.15] Init: Presizing for 90984 objects not considered by GC, pre-allocating 0 bytes.
[0000.15] Init: Object subsystem initialized
[0000.16] Init: Version: 6699
[0000.16] Init: Epic Internal: 0
[0000.16] Init: Compiled (32-bit): Apr 26 2011 11:44:01
[0000.16] Init: Changelist: 95581
[0000.16] Init: Command line: -DEFENGINEINI=..\..\DFGame\Config\DefaultEngineGameSpy.ini
[0000.16] Init: Base directory: d:\program files (x86)\steam\steamapps\common\hunted\BINARIES\WIN32\
[0000.16] Init: INXILE_CURRENTLANGUAGESET: INXILE_LANGUAGESET_FIGS(3)
[0002.58] Log: Incomplete cached shader map for material DefaultMaterial, compiling.
[0027.73] Log: *** Dumping Known Language Extensions:
[0027.73] Log: 0: FRA
[0027.73] Log: 1: ITA
[0027.73] Log: 2: DEU
[0027.73] Log: 3: ESN
[0027.73] Log: *** Determining the current language index...
[0027.73] Warning: Warning, Found INT at index 0
[0027.73] Log: Found language DEU at index 3!
[0028.61] Warning: Warning, Failed to load Outer for resource 'ReturnValue': Function OnlineSubsystemGameSpy.OnlineSubsystemGameSpy:GetPlayerNickname
[0029.38] Log: Incomplete cached shader map for material DM_BloodSimpleSplat, compiling.
[0029.78] Log: Incomplete cached shader map for material DM_Groundcracks, compiling.
[0030.22] Log: Incomplete cached shader map for material DM_SpellRing, compiling.
[0030.69] Log: Incomplete cached shader map for material DM_BloodModulatedDecals, compiling.
[0032.16] Log: Incomplete cached shader map for material M_Base_Weapons, compiling.
[0034.74] Log: Incomplete cached shader map for material M_Base_Weapons_Masked_2Sided, compiling.
[0038.99] Log: Incomplete cached shader map for material M_Base_ProceduralFires, compiling.
[0040.71] Log: Incomplete cached shader map for material M_ChunkyMask, compiling.
[0045.13] Log: Incomplete cached shader map for material M_IceFade, compiling.
[0047.80] Log: Incomplete cached shader map for material M_BloodBreakTranslucent, compiling.
[0048.38] Log: Incomplete cached shader map for material M_Base_ModulateProc, compiling.
[0051.19] Log: Incomplete cached shader map for material M_LightBeamMaster, compiling.
[0052.57] Log: Incomplete cached shader map for material M_BloodBreak, compiling.
[0054.60] Log: Incomplete cached shader map for material M_OrbMaster, compiling.
[0056.54] Log: Incomplete cached shader map for material M_IceDecal, compiling.
[0056.75] Log: Incomplete cached shader map for material M_IceTotalFade, compiling.
[0057.22] Log: Incomplete cached shader map for material M_SlowIce, compiling.
[0057.69] Log: Incomplete cached shader map for material M_ColdMaterial, compiling.
[0063.02] Log: Incomplete cached shader map for material M_DamageFadeMaterial, compiling.
[0067.44] Log: Incomplete cached shader map for material M_EmptySpace, compiling.
[0069.36] Log: Incomplete cached shader map for material M_EyeProcedural, compiling.
[0069.74] Log: Incomplete cached shader map for material M_PortalMesh, compiling.
[0071.39] Log: Incomplete cached shader map for material M_PortaPauselMesh, compiling.
[0073.29] Log: Incomplete cached shader map for material M_DemonHead, compiling.
[0073.74] Log: Incomplete cached shader map for material M_Anisotropic_Hair, compiling.
[0076.98] Log: Incomplete cached shader map for material M_Anisotropic_Hair_Mask, compiling.
[0081.08] Log: Incomplete cached shader map for material M_Base, compiling.
[0083.44] Log: Incomplete cached shader map for material M_Base_Char_FX, compiling.
[0086.01] Log: Incomplete cached shader map for material M_Base_Char_Optimized, c