Important August 12, 2024 Deadline Reminder: Kessler Topaz

RADNOR, Pa., June 22, 2024 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) notifies investors that it has filed a securities class action lawsuit in the United States District Court for the Northern District of California against Roblox Corporation (“Roblox”) (NYSE: RBLX). As part of this action, Roblox alleges violations of the federal securities laws, including omissions and false statements regarding the company’s business, operations and prospects. As a result of Roblox’s materially misleading statements and omissions made public, Roblox investors have suffered significant losses. The deadline for filing a complaint is August 12, 2024.

If you have suffered losses on Roblox, you can CLICK HERE or go to:

CANNOT WATCH THIS VIDEO? PLEASE CLICK HERE. YOU CAN ALSO COPOP AND PASTE THIS LINK IN YOUR BROWSER:

You can also contact a lawyer Jonathan Naji, Esq. Kessler Topaz by calling (484) 270-1453 or emailing [email protected].

ALLEGED IMPROPER BEHAVIOR OF THE DEFENDANTS
In November 2023, Roblox provided investors with significant information regarding the company’s expected revenues for the first quarter of 2024 and fiscal year 2024. This was the first time that Roblox had offered earnings and revenue guidance to its investors since the company went public in 2021. Roblox’s statements included, among other things, that Roblox expected “bookings” of $4.14 billion to $4.28 billion in fiscal year 2024 – reflecting annual growth of 25% to 27% – and annual revenues of $3.3 to $3. .4 billion dollars.

Then on February 7, 2024, during an earnings call, Roblox reiterated its earnings guidance for the first quarter of 2024 and fiscal year 2024, as well as its strength in the new technology and digital economy.

On May 9, 2024, Roblox announced its first quarter 2024 financial results and provided updated guidance. Roblox said, among other things, that the company expects booking revenue in the second quarter of 2024 of $870-900 million compared to analyst expectations of $929 million, and booking revenue of $4-4.1 billion for the full year. year, which is much lower than Roblox’s earlier forecast of $4.14-4.28 billion.

On this news, the Roblox stock price fell by $8.61 per share, or 22.06%, to close at $30.42 per share on May 9, 2024.

WHAT CAN I DO?
Roblox investors can, no later than August 12, 2024, seek appointment as lead plaintiff on behalf of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may take no action and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages Roblox investors who have suffered significant losses to contact the company directly for additional information. Class action lawsuit against Roblox, Li v. Roblox Corp. et al., Case No. 24-cv-03484 was filed in the United States District Court for the Northern District of California.

CLICK HERE TO SIGN UP FOR A CASE OR GO TO:

WHO CAN BE THE MAIN POWER?
A lead plaintiff is a representative party who acts on behalf of all class members to direct the litigation. The primary plaintiff is usually an investor or a small group of investors who have the greatest financial interest and who are relevant and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class, and these attorneys, if approved by the court, will serve as lead or class counsel. The decision whether to serve as lead plaintiff does not affect your ability to participate in any recovery.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP litigates class actions in state and federal courts throughout the country and around the world. The company has earned a global reputation for excellence and has recovered billions of dollars from victims of fraud and other corporate abuses. All of our work is guided by a common purpose: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. No complaint in this proceeding was filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP, visit www.ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
(484) 270-1453
The King of Prussia’s Road 280
Radnor, Pennsylvania 19087
[email protected]

In some jurisdictions they may be considered lawyer advertising. Past performance does not guarantee future results.