Class action lawsuit filed against Roblox Corporation (RBLX) to seek compensation for investors

NEW YORK, July 9, 2024 /PRNewswire/ — Levi & Korsinsky, LLP notifies investors in Roblox Corporation (“Roblox” or the “Company”) (NYSE: RBLX) in a securities class action lawsuit.

CLASS DEFINITION: The aim of the lawsuit is to recover losses on behalf of Roblox investors caused by allegedly Securities Fraud between 15 November 2023 And May 8, 2024. Follow the link below for more information and to be contacted by a member of our team:

Roblox Lawsuit Submission Form

RBLX Investors can also Joseph E. Levi, Esq. per email to (email protected) or by phone at (212) 363-7500.

CASE DETAILS: According to the complaint February 7, 2024Roblox – the publisher of the video game Minecraft – announced its financial forecast for fiscal year 2024. It was the first time Roblox issued a financial forecast to investors. Then, on May 9, 2023Roblox held its quarterly earnings call and cut its guidance for fiscal 2024. Management blamed changes in player engagement for the guidance reduction. Analysts expressed dismay at the quickly reduced guidance, with one analyst noting that Roblox made the cut “in one of its first real opportunities to do so.” Other analysts reported that the reduced guidance “may raise concerns about management’s transparency on core bookings growth” and that the company “will be burdened by a management credibility issue in the near term.” Following the earnings call, RBLX shares fell $8.61or 22% overnight.

WHAT’S NEXT? If you have suffered a loss in Roblox during the relevant period, you have until 12 August 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any compensation is not dependent on your serving as lead plaintiff.

NO COST TO YOU: If you are a member of a class action lawsuit, you may be entitled to compensation without incurring any out-of-pocket costs or fees. Participation is free of charge and involves no obligations.

WHY LEVI & KORSINSKY: Over the past 20 years, the Levi & Korsinsky team has recovered hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive experience representing investors in complex securities litigation and a team of over 70 people dedicated to serving our clients. For seven consecutive years, Levi & Korsinsky has been recognized as one of the leading securities litigation firms in the ISS Securities Class Action Services Top 50 Report. The United States.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
(email protected)
Phone: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

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