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RBLX.US

Roblox (RBLX) Unauthorized Purchases Case

S.D. New York
Court
1:23-cv-10347
Case number
10 Mar 2021
Class period Start
15 Feb 2022
Class period End
  • 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.
Alleged Offence
Mismanagement
Misleading Statements
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
16 February 2022
Filing date
27 November 2023
Lead Plaintiff Deadline
26 January 2024
Collecting participants…
Created by Polina Foster, Scout

Roblox Corp

Roblox Corporation develops and operates an online entertainment platform. The company offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D exp...

    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