Roblox Corporation (RBLX) Class Action Lawsuit Announcement: Kessler Topaz Meltzer & Check, LLP announces that a securities class action lawsuit has been filed against Roblox Corporation

Radnor, Pennsylvania–(Newsfile Corp. – July 5, 2024) – The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against Roblox Corporation (“Roblox”) (NYSE: RBLX). The lawsuit accuses Roblox of violating the federal securities laws, including omissions and fraudulent misrepresentations regarding the company’s business, operations, and prospects. As a result of Roblox’s materially misleading statements and omissions to the public, Roblox investors have suffered substantial losses. The lead plaintiff deadline for filing a claim is August 12, 2024.

If you have suffered losses in Roblox, you can CLICK HERE or go to: https://www.ktmc.com/new-cases/roblox-corporation?utm_source=PR&utm_medium=link&utm_campaign=rblx&mktm=r

CAN’T YOU WATCH THIS VIDEO? PLEASE CLICK HEREYOU CAN ALSO COPY AND PASTE THIS LINK INTO YOUR BROWSER: https://youtu.be/KwIsAM7ucQo

You can also contact a lawyer Jonathan Naji, attorney at law Kessler Topaz by calling (484) 270-1453 or by sending an email to [email protected].

ALLEGED IMPROPER CONDUCT OF THE DEFENDANTS

In November 2023, Roblox provided investors with significant information regarding the company’s expected revenue for the first quarter of 2024 and fiscal year 2024. This was the first time Roblox had offered its investors guidance on earnings and revenue since the company went public in 2021. Roblox’s statements included that Roblox expected between $4.14 billion and $4.28 billion in “bookings” in fiscal year 2024 — reflecting 25% to 27% annual growth — and between $3.3 billion and $3.4 billion in annual revenue.

Then on February 7, 2024, during its financial results conference call, Roblox reiterated its earnings guidance for the first quarter of 2024 and fiscal year 2024, as well as its strengths in emerging technologies and the digital economy.

On May 9, 2024, Roblox released its first-quarter 2024 financial results and provided updated guidance. Among other things, Roblox said the company expects booking revenue of $870 million to $900 million in the second quarter of 2024, compared to analysts’ expectations of $929 million, and booking revenue of $4 billion to $4.1 billion for the full year, significantly lower than Roblox’s prior forecast of $4.14 billion to $4.28 billion.

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

WHAT CAN I DO?

Roblox investors can, no later than 12 August 2024 seek appointment as lead class representative through Kessler Topaz Meltzer & Check, LLP or other legal counsel, or you may do nothing 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 more 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: https://www.ktmc.com/new-cases/roblox-corporation?utm_source=PR&utm_medium=link&utm_campaign=rblx&mktm=r

WHO CAN BE LEADER PLAINTIFF?

A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. A lead plaintiff is typically an investor or small group of investors who have the strongest financial interest and who are also suitable and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class, and those counsel, if approved by the court, serve as lead or class counsel. Your ability to share in any recovery is not affected by the decision to serve as lead plaintiff.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP

Kessler Topaz Meltzer & Check, LLP litigates class action cases in state and federal courts across the country and around the world. The firm has built a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate wrongdoing. All of our work is driven by a common goal: protecting investors, consumers, employees and others from corporate and fiduciary fraud, abuse, misconduct and negligence. The complaint in this case was not 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, attorney at law
(484) 270-1453
280 Royal Prussian Road
Radnor, PA 19087
[email protected]

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