Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Roblox Corporation ("Roblox" or the "Company") (NYSE: RBLX) investors that a lawsuit was filed on behalf of investors that purchased Roblox securities between March 10, 2021 and February 15, 2022, inclusive.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The filed complaint asserts that the defendants have been accused of making false statements or concealing the following information:
- That the Roblox platform lacked adequate content controls and did not have restrictions on user spending.
- These insufficient controls allowed younger Roblox users to access games with inappropriate content and make unauthorized Robux purchases excessively.
- A significant portion of Roblox's bookings and revenue growth stemmed from these excessive and unauthorized Robux purchases.
- The introduction of enhanced parental controls by Roblox in the fourth quarter of 2021 and 2022 would have a negative impact on bookings.
- Consequently, it is claimed that the Company's bookings and revenue growth were not sustainable throughout the class period.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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