RBLX Investors Have Opportunity to Lead Roblox Corporation Securities Fraud Lawsuit
NEW YORK, July 19, 2024 /PRNewswire/ --
Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Roblox Corporation (NYSE: RBLX) between November 15, 2023 and May 8, 2024, both dates inclusive (the "Class Period"), of the important August 12, 2024 lead plaintiff deadline.
So what: if you purchased Roblox securities during the class period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
What to do next: To join the Roblox class action, go to https://rosenlegal.com/submit-form/?case_id=25991 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 12, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
Details of the case: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or created the false impression that they possessed reliable information pertaining to Roblox's projected revenue outlook and anticipated bookings growth, due largely to expansions in Roblox's available platforms, changes in Roblox's digital technology (such as avatars), Roblox's shared economy with content creators, and advertising revenue. In truth, Roblox knew each of those bookings and revenue sources were tenuous at best. In fact, Roblox faced difficulty converting daily average users ("DAUs") into bookings and eventually blamed the very technology and platform growth it lauded as revolutionary and revenue-generating for this bookings problem. Defendants misled investors by providing the public with a materially flawed outlook for the relationship between DAU, bookings, and technology it lauded during its Investor Day and Earnings Call. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Roblox class action, go to https://rosenlegal.com/submit-form/?case_id=25991 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.
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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Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com
SOURCE THE ROSEN LAW FIRM, P. A.
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