Roblox Faces Class Action Lawsuit Over Alleged Inflated Financial Projections as Share Prices Tumble
SAN MATEO, Calif. — A major lawsuit has been launched against the popular immersive entertainment platform company, Roblox Corporation. On June 10, 2024, investors who are alleging significant financial losses during a specific trading period initiated a class action lawsuit seeking compensatory damages. During the period between November 15, 2023, and May 8, 2024, shareholders claim they purchased Roblox stock at inflated prices based on the company’s optimistic financial projections which later proved overstated. Roblox, known for its platform that combines gaming, social media, and virtual learning environments, reported having 77.7 million daily active users … Read more