Press release
Lawsuit filed for Investors who lost Money with shares of Roblox Corporation (NYSE: RBLX)
A lawsuit was filed on behalf of investors in Roblox Corporation (NYSE: RBLX) shares over alleged securities laws violations.
Investors who purchased shares of Roblox Corporation (NYSE: RBLX) have certain options and for certain investors are short and strict deadlines running. Deadline: August 12, 2024. NYSE: RBLX investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
San Mateo, CA based Roblox Corporation develops and operates an online entertainment platform in the United States and internationally.
On February 7, 2024, Roblox Corporation reported its fourth quarter and full year 2023 financial results. Roblox Corporation reported that its annual Total Revenue rose from over $2.22 billion in 2022 to over $2.79 billion in 2023, and that its Net Loss increased from $924.36 million in 2022 to over $1.15 billion in 2023.
Furthermore, Roblox Corporation issued its fiscal guidance to investors.
Then on May 8, 2024, Roblox Corporation hosted its Q1-24 earnings call and released its associated financial reports. The Company announced it was reducing its previously-announced bookings guidance to $4.0 billion for FY-24. It also announced 19% bookings growth in Q1-24. The company blamed its digital economy, new purchasable items, and platform expansion for the decline.
Shares of Roblox Corporation (NYSE: RBLX) declined from $47.11 per share on February 08, 2024, to as low as $29.55 per share on May 09, 2024.
The plaintiff claims that between November 15, 2023 and May 8, 2024, the defendants made materially false and misleading statements and engaged in a scheme to deceive the market and a course of conduct that artificially inflated the price of Roblox's common stock and operated as a fraud or deceit purchasers of Roblox's common stock between between November 15, 2023 and May 8, 2024 by materially misleading the investing public, and that as a result of their purchases of Roblox's common stock between November 15, 2023 and May 8, 2024, Plaintiff and other members of the Class suffered economic loss under federal securities laws.
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.
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