Investigation announced for Investors in Roblox Corporation (NYSE: RBLX) over potential Wrongdoing

An investigation was announced for current long-term investors in shares of Roblox Corporation (NYSE: RBLX) concerning potential breaches of fiduciary duties by certain directors and officers of Roblox Corporation.

Investors who are current long term investors in Roblox Corporation (NYSE: RBLX) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NYSE: RBLX stocks follows a lawsuit filed against Roblox Corporation over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: RBLX stocks, concerns whether certain Roblox Corporation directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges that, 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.