New York, New York--(Newsfile Corp. - February 5, 2024) - Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Roblox Corporation (NYSE: RBLX) breached their fiduciary duties to shareholders.
According to a federal securities lawsuit, Roblox insiders caused the company to misrepresent or fail to disclose that (1) the Roblox platform suffered from a lack of adequate content filters and did not impose limits on user expenditures; (2) this lack of stringent controls allowed younger users of Roblox to access games containing unsuitable material and to engage in excessive, unapproved purchases of Roblox; (3) a significant portion of Roblox's growth in bookings and revenue stemmed from these unchecked, unauthorized Roblox transactions; (4) the company anticipated a negative impact on its bookings for the fourth quarters of 2021 and 2022 due to the upcoming implementation of improved parental controls; and (5) consequently, it became evident that the company's growth in bookings and revenue was not sustainable given these issues.
If you currently own RBLXand purchased prior to May 2021 please contact Justin Kuehn, Esq. by email at justin@kuehn.law or call (833) 672-0814. The consultation and case are free with no obligation to you. Kuehn Law pays all case costs and does not charge its investor clients.Shareholders should contact the firm immediately as there may be limited time to enforce your rights.
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For additional information, please visit Shareholder Derivative Litigation - Kuehn Law.
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Contacts:
Kuehn Law, PLLC
Justin Kuehn, Esq.
53 Hill Street, Suite 605
Southampton, NY 11968
justin@kuehn.law
(833) 672-0814
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196843
