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RBLX.US
id: 884
Roblox (RBLX) Unauthorized Purchases Case
N.D. California
Court 3:23-cv-06618
Case number03/10/2021
Class period Start02/15/2022
Class period End01/26/2024
Lead Plaintiff motion deadline- Roblox supposedly let younger users access inappropriate content and make too many unauthorized purchases, playing a big role in the company's revenue growth.
- On February 15, 2022, when Roblox disclosed disappointing Q4 2021 results, $RBLX plummeted by over 26%.
Roblox accused of having problems with controlling content and limiting spending for younger users.
These issues led to unauthorized purchases with their currency, Robux, impacting Roblox's revenue growth.
When they revealed disappointing Q4 2021 results, including a drop in audience size and engagement, $RBLX dropped more than 26%.
Investors have reasons to suspect that Roblox's growth wasn't as solid as they made it seem.
Case Status
Motion to dismiss
Alleged Offence
Mismanagement,
Misleading Statements,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
02/16/2022
Filing date
11/27/2023
Lead Plaintiff Deadline
01/26/2024