Sign In
Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
RBLX.US
id: 1253

Roblox Corporation (RBLX) Platform Expansion Issues Case

N.D. California
Court
3:24-cv-03484
Case number
15 Nov 2023
Class period Start
08 May 2024
Class period End
12 Aug 2024
Lead Plaintiff motion deadline
  • $RBLX stockholder filed a claim vs. Roblox Corporation for hiding issues with new items and platform expansion.
  • On May 9, 2024, on the news of Roblox slashing its guidance for FY 2024, $RBLX fell 22%, losing $5B+ in shareholder value.
  • Roblox investors can join this case to be notified about potential recovery.
Case details:

In November 2023, Roblox offered earnings and revenue guidance to its investors for the first time since going public in 2021.

Roblox provided several reasons for its optimistic revenue forecast, including innovative economic incentives for online content creators, new purchasable digital items, expansion to new platforms such as PlayStation, and increased advertising revenue.

On February 7, 2024, during an earnings call, Roblox reiterated its earnings projections for Q1 2024 and FY 2024, emphasizing its strength in new technologies and its digital economy.

However, on May 9, 2024, Roblox hosted its quarterly earnings call and drastically reduced its guidance for FY 2024.

Following this news, $RBLX fell 22%, losing over $5B in shareholder value.

Based on these events, investors have filed a claim against Roblox, accusing them of the following:
  • Roblox was unable to meet its revenue projections.
  • They also didn't disclose issues with the new items and platform expansion.
Considering all the representations, investors have reasons to suspect Roblox hid issues with new items and expansion.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
09 May 2024
Filing date
10 June 2024
Lead Plaintiff Deadline
12 August 2024
Judge
Hon. Maxine M. Chesney
Collecting participants…

Roblox Corp

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to bu...

    Ticker
    RBLX.US
    ISIN
    US7710491033
    CIK
    1315098
    Sector
    Communication Services
    Industry
    Electronic Gaming & Multimedia
    Country
    USA
    Address
    970 Park Place, San Mateo, CA, United States, 94403