| COMPANY |
Roblox Corporation |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
24-cv-03484 |
| JUDGE |
The Hon. Maxine M. Chesney |
| CLASS PERIOD |
November 15, 2023 through May 8, 2024 |
| SECURITY TYPE |
Securities |
Case Background:
This is a class action on behalf of persons or entities who purchased or otherwise acquired Roblox Corporation securities from November 15, 2023 through May 8, 2024, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that Defendants created the false impression that they possessed reliable information pertaining to Roblox’s projected revenue outlook and anticipated bookings growth. According to the complaint, in fact, Roblox faced difficulty converting daily active users into bookings and eventually blamed the very technology and platform growth Roblox lauded as revolutionary and revenue-generating for this bookings problem.
Current Status of Case:
On August 27, 2024, the Court entered an Order granting Motion for Appointment as Lead Plaintiff and Approval of Counsel. On October 10, 2024, Lead Plaintiff voluntarily dismissed the case.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.