Games

2024-01-04 | NYSE: RBLX | Press Release

NEW YORK, NY / ACCESSWIRE / January 4, 2024 / Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Roblox Corporation (“Roblox” or the “Company”) (NYSE: RBLX) and certain of its officers.

Class definition:

This lawsuit seeks to recover defendants’ alleged violations of the federal securities laws against all persons and entities who purchased or otherwise acquired Roblox securities between March 10, 2021, and February 15, 2022, inclusive (the “Class Period”). compensation. Such investors are encouraged to join the case by visiting the company’s website: bgandg.com/rblx.

Case details:

The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects. Specifically, the complaint alleges that: (1) Roblox reported strong bookings and revenue growth; (2) the company attributed this growth to a variety of factors, including COVID-19 stay-at-home orders, technology investments, and “high-quality” gaming content (3) The maintainers misled investors by failing to disclose that a significant part of Roblox’s growth was due to weak content controls and a lack of spending limits on the platform; (4) These inadequate controls allowed younger Roblox users to play Games that contain inappropriate content and make unauthorized Robux purchases, resulting in unsustainable booking and revenue levels.

What’s next?

A class action lawsuit has been filed. If you would like to review a copy of the complaint, you may visit the firm’s website at: bgandg.com/rblx, or you may contact Peretz Bronstein, Esq. or its attorney and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC, at 332-239-2660. If you suffered a loss in Roblox, you have until January 26, 2024 to ask the court to appoint you as lead plaintiff. Your ability to share in any recovery does not require that you serve as lead plaintiff.

You pay nothing

We represent investors in class actions on a contingent fee basis. This means that, only if we are successful, we will ask the court to reimburse us for our out-of-pocket costs and attorney’s fees, usually a percentage of the total award.

Why Choose Bronstein, Gerwitz & Grossman:

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized law firm representing investors in securities fraud class actions and shareholder derivative actions. Our firm has recovered hundreds of millions of dollars for investors across the country.

Lawyer advertising. Previous results do not guarantee similar results.

touch:

Bronstein, Gerwitz & Grossman LLC

perez brownstein or jyle nasonson

332-239-2660 | 332-239-2660 info@bgandg.com

source: Bronstein, Gerwitz & Grossman LLC

View the original press release at accesswire.com

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