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05.01.2024 05:45
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SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Roblox Corporation of a Class Action Lawsuit and a Lead Plaintiff Deadline of January 26, 2024 - (NYSE: RBLX)
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PR Newswire
NEW YORK, Jan. 5, 2024
NEW YORK, Jan. 5, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Roblox Corporation.
Shareholders who purchased shares of RBLX during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
CLASS PERIOD: This lawsuit is on behalf of all persons or entities that purchased or otherwise acquired Roblox Class A common stock between March 10, 2021 and February 15, 2022, inclusive.
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) the Roblox platform had insufficient content controls and lacked user spending restrictions; (2) these inadequate controls enabled younger Roblox users to play games with inappropriate content and make excessive, unauthorized Robux purchases; (3) a material portion of Roblox's bookings and revenue growth was due to these excessive, unauthorized Robux purchases; (4) fourth quarter 2021 and 2022 bookings would be negatively impacted by Roblox's planned rollout of enhanced parental controls; and (5) based on the foregoing, the Company's bookings and revenue growth was unsustainable throughout the class period.
DEADLINE: January 26, 2024 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/roblox-corporation-loss-submission-form/?id=62414&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of RBLX during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is January 26, 2024. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-alert-the-gross-law-firm-notifies-shareholders-of-roblox-corporation-of-a-class-action-lawsuit-and-a-lead-plaintiff-deadline-of-january-26-2024--nyse-rblx-302026845.html
SOURCE The Gross Law Firm
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