Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Roblox Corporation (“Roblox”) (NYSE: RBLX) securities between November 15, 2023 and May 8, 2024, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that Defendants created the false impression that they possessed reliable information pertaining to Roblox’s projected revenue outlook and anticipated bookings growth. According to the complaint, in fact, Roblox faced difficulty converting daily active users into bookings and eventually blamed the very technology and platform growth Roblox lauded as revolutionary and revenue-generating for this bookings problem.
Current Status of Case:
On October 10, 2024, Lead Plaintiff voluntarily dismissed the case. This action has concluded.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.