Roblox Corporation (NYSE: RBLX) Investor Alert: Deadline in Lawsuit on January 26, 2024

A deadline is coming up on January 26, 2024 in the lawsuit filed for certain investors of Roblox Corporation (NYSE: RBLX) over alleged securities laws violations by Roblox Corporation (NYSE: RBLX).

Investors who purchased shares of Roblox Corporation (NYSE: RBLX) have certain options and there are strict and short deadlines running. Deadline: January 26, 2024. Roblox Corporation (NYSE: RBLX) stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges on behalf of purchasers of Roblox Corporation (NYSE: RBLX) common shares between March 10, 2021 and February 15, 2022, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 10, 2021 and February 15, 2022, the Defendants misled investors by failing to disclose that a material portion of Roblox's growth was due to weak content controls and the lack of spending restrictions on its platform and that these inadequate controls enabled younger Roblox users to play games with inappropriate content and make unauthorized Robux purchases which translated into unsustainable levels of bookings and revenue.

The plaintiff further alleges that statements made by Defendants between March 10, 2021 and February 15, 2022 were materially false and misleading when made because they misrepresented or failed to disclose that the Roblox platform had insufficient content controls and lacked user spending restrictions, that these inadequate controls enabled younger Roblox users to play games with inappropriate content and make excessive, unauthorized Robux purchases, that a material portion of Roblox's bookings and revenue growth was due to these excessive, unauthorized Robux purchases, that fourth quarter 2021 and 2022 bookings would be negatively impacted by Roblox's planned rollout of enhanced parental controls, and that based on the foregoing, the Company's bookings and revenue growth was unsustainable between March 10, 2021 and February 15, 2022.

Those who purchased shares of Roblox Corporation (NYSE: RBLX) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.