NEW YORK, Nov. 28, 2023 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP:
- Do you, or did you, own shares of Roblox Corporation (NYSE: RBLX)?
- Did you purchase your shares between March 10, 2021 and February 15, 2022, inclusive?
- Did you lose money in your investment in Roblox Corporation?
- Do you want to discuss your rights?
Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the Class A common stock of Roblox Corporation (“Roblox” or the “Company”) (NYSE: RBLX) between March 10, 2021 and February 15, 2022, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Southern District of New York and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased or acquired Roblox Class A common stock, and/or would like to discuss your legal rights and options please visit Roblox Corporation Shareholder Class Action Lawsuit or contact paralegal Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
According to the Complaint, Roblox operates a video game platform that provides developers with tools to create games that are hosted on the Company’s servers. There are millions of games available on Roblox’s platform that users can access for free. Roblox generates revenue by selling its proprietary currency (called “Robux”) to its users so they can purchase digital items (e.g., weapons, armor, or vehicles) to enhance their gaming experiences.
On February 15, 2022, Roblox reported surprisingly weak fourth quarter 2021 results. Most of Roblox’s key metrics missed analysts’ expectations, including quarterly bookings and revenue. The Company also reported January 2022 bookings that analysts at Truist Securities called “very weak.”
On this news, the Company’s share price fell $19.43, or 26.5%, to close at $53.87 per share on February 16, 2022.
If you wish to serve as lead plaintiff, you must move the Court no later than January 26, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased or acquired Roblox Class A common stock, and/or would like to discuss your legal rights and options please visit Roblox Corporation Shareholder Class Action Lawsuit or contact paralegal Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.
ATTORNEY ADVERTISING. © 2023 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information:
Peter Allocco
Paralegal
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
pallocco@bernlieb.com
