NEW YORK, Feb. 22, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Roblox Corporation (“Roblox” or the “Company”) (: RBLX). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Roblox and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On February 3, 2022, The Bear Cave issued a report entitled “Problems at Roblox (RBLX, Financial)”, detailing misconduct at the online gaming platform company. The Bear Cave report alleges that Roblox’s “former social media manager ran a pornographic blog while employed by the company” and has “engaged in litigation and intimidation to help conceal allegations of pedophilia on the platform.”
On this news, Roblox’s stock price fell $5.50 per share, or 8.31%, to close at $60.67 per share on February 3, 2022.
Then, on February 15, 2022, Roblox reported its financial and operating results for the fourth quarter and full year 2021. Among other items, Roblox reported decelerating bookings and a larger-than-expected net loss of $0.25 per share, compared to consensus estimates of only $0.13 per share. Roblox advised that it expects a further deceleration in growth in the first quarter of 2022.
On this news, Roblox’s stock price fell $19.43 per share, or 26.51%, to close at $53.87 per share on February 16, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
