According to the lawsuit, defendants made materially false and/or misleading statements and/or failed to disclose that:
- the Roblox platform had insufficient content controls and lacked user spending restrictions;
- these inadequate controls enabled younger Roblox users to play games with inappropriate content and make excessive, unauthorized Robux, Roblox’s proprietary currency, purchases;
- a material portion of Roblox’s bookings and revenue growth was due to these excessive, unauthorized Robux purchases;
- fourth quarter 2021 and 2022 bookings would be negatively impacted by Roblox’s planned rollout of enhanced parental controls; and
- based on the foregoing, Roblox’s bookings and revenue growth was unsustainable throughout the class period.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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