NEW YORK, June 16, 2024 (GLOBE NEWSWIRE) —
WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of Roblox Corporation (NYSE: RBLX) between November 15, 2023 and May 8, 2024, both dates inclusive (the “Class Period”). 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.
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 case@rosenlegal.com 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.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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 case@rosenlegal.com 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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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
case@rosenlegal.com
www.rosenlegal.com
GlobeNewswire Distribution ID 9154394