New Title: Roblox Investors Have a Chance to Seek Compensation in Class Action Lawsuit

Roblox Corporation investors who purchased common stock series A between March 10, 2021, and February 15, 2022, have an opportunity to participate in a class action lawsuit against the company. The Rosen Law Firm, a global investor rights law firm, is reminding investors about the important deadline on January 26, 2024, to join as the lead plaintiff in the collective lawsuit.

What Happens Next

If you bought Roblox common stock series A during the Class Period, you may be eligible for compensation without any fees or costs. To join the class action lawsuit against Roblox, visit rosenlegal.com or call the toll-free number 866-767-3653 to contact Phillip Kim, Esq., or send an email to [email protected] or [email protected] for more information. The class action lawsuit has already been filed. To be the lead plaintiff, you must notify the court no later than January 26, 2024. The lead plaintiff acts as a representative party on behalf of other class members in directing the litigation.

Why Choose Rosen Law Firm

Rosen Law Firm advises investors to select a qualified attorney with a proven track record as a leader in class action litigation. Many firms issuing press releases lack comparable experience, resources, or any significant peer recognition. Some of these firms, in reality, do not handle securities class action lawsuits directly but act as intermediaries who refer clients to law firms that actually handle the cases. Choose your attorney wisely. Rosen Law Firm represents investors worldwide, focusing its practice on securities class action and shareholder derivative litigation. The firm achieved the largest inter-category settlement in history concerning securities against a Chinese company. Rosen Law Firm ranked first in the ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has been ranked in the top four every year since 2013 and has recovered hundreds of millions of dollars on behalf of investors. In 2019, the firm alone secured over $438 million for investors. In 2020, Rosen Law Firm’s founder, Laurence Rosen, was recognized by Law360 as a titan of the bar responsible for civil litigation. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Case Details

According to the lawsuit, the defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Roblox platform had insufficient content controls and user spending limitations; (2) these inadequate controls allowed younger Roblox users to play games with inappropriate content and make excessive, unauthorized purchases of Robux, Roblox’s virtual currency; (3) a significant portion of Roblox’s revenues resulted from these excessive, unauthorized Robux purchases; (4) Roblox’s reserve and revenue growth in the fourth quarter of 2021 and 2022 would be negatively impacted by the planned implementation of enhanced Roblox parental controls; and (5) based on the foregoing, Roblox’s revenue and reserve growth were unsustainable throughout the Class Period. The lawsuit alleges that when the true information became known to the market, investors suffered damages.

To join the class action lawsuit against Roblox, visit rosenlegal.com or call the toll-free number 866-767-3653 to contact Phillip Kim, Esq., or send an email to [email protected] or [email protected] for more information.

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