Roblox Corporation (RBLX)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Roblox Corporation ("Roblox" or the "Company") (NYSE: RBLX). Investors who purchased Roblox securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Roblox and certain of its officers and/or directors have violated federal securities laws.
On February 3, 2022, The Bear Cave issued a report entitled “Problems at Roblox (RBLX)”, detailing misconduct at the online gaming platform company. The Bear Cave report alleges that Roblox’s “former social media manager ran a pornographic blog while employed by the company” and has “engaged in litigation and intimidation to help conceal allegations of pedophilia on the platform.” On this news, Roblox’s stock price fell $5.50 per share, or 8.31%, to close at $60.67 per share on February 3, 2022. Then, on February 15, 2022, Roblox reported its financial and operating results for the fourth quarter and full year 2021. Among other items, Roblox reported decelerating bookings and a larger-than-expected net loss of $0.25 per share, compared to consensus estimates of only $0.13 per share. Roblox advised that it expects a further deceleration in growth in the first quarter of 2022. On this news, Roblox’s stock price fell $19.43 per share, or 26.51%, to close at $53.87 per share on February 16, 2022.
If you are aware of any facts relating to this investigation or purchased Roblox shares, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.