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id: 884, Created by Polina Foster, Scout
Roblox (RBLX) Unauthorized Purchases Case
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S.D. New YorkCourt
10 Mar 2021Class period Start
15 Feb 2022Class 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.
Shock Event Date
16 February 2022
27 November 2023
Lead Plaintiff Deadline
26 January 2024