Roblox Reports 13,000 Child Exploitation Cases In 2023, Details Safety Measures

NEW YORK, NY / ACCESSWIRE / July 24, 2024 / If you suffered a loss on your Roblox Corporation (NYSE:RBLX) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information:

https://zlk.com/pslra-1/roblox-lawsuit-submission-form?prid=92078&wire=1

or contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or call (212) 363-7500 to speak to our team of experienced shareholder advocates.

THE LAWSUIT: A class action securities lawsuit was filed against Roblox Corporation that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between November 15, 2023 and May 8, 2024.

CASE DETAILS: According to the complaint, on February 7, 2024, Roblox - the publisher of the Minecraft video game - issued its FY 2024 fiscal guidance. It was the first time Roblox issued a fiscal guidance to investors. Then, on May 9, 2023, Roblox hosted its quarterly earnings call and slashed its guidance for FY 2024. Management blamed changes in player engagement for the guidance reduction. Analysts expressed dismay at the rapidly reduced guidance, with one analyst noting Roblox made the cut "at one of its first real opportunities to do so." Other analysts reported the reduced guidance "may raise concerns regarding management's visibility into core bookings growth" and the Company "will be burdened by a management credibility issue over the near term." Following the earnings call, RBLX shares fell $8.61, or 22% overnight.

WHAT'S NEXT? If you suffered a loss in Roblox stock during the relevant time frame - even if you still hold your shares - go to https://zlk.com/pslra-1/roblox-lawsuit-submission-form?prid=92078&wire=1 to learn about your rights to seek a recovery. There is no cost or obligation to participate.

WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.

CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. Ed Korsinsky, Esq. 33 Whitehall Street, 17th Floor New York, NY 10004jlevi@levikorsinsky.com Tel: (212) 363-7500 Fax: (212) 363-7171https://zlk.com/

SOURCE: Levi & Korsinsky, LLP

RADNOR, Pa., July 24, 2024 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California against Roblox Corporation (“Roblox”) (NYSE: RBLX). The action charges Roblox with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company’s business, operations, and prospects. As a result of Roblox’s materially misleading statements and omissions to the public, Roblox’s investors have suffered significant losses. The lead plaintiff deadline is August 12, 2024.

If you suffered Roblox losses, you may CLICK HERE or go to: https://www.ktmc.com/new-cases/roblox-corporation?utm_source=PR&utm_medium=link&utm_campaign=rblx&mktm=r

CANNOT VIEW THIS VIDEO? PLEASE CLICK HERE. YOU CAN ALSO COPY AND PASTE THIS LINK IN YOUR BROWSER:https://youtu.be/KwIsAM7ucQo

You can also contact attorney Jonathan Naji, Esq.of Kessler Topaz by calling (484) 270-1453 or by email at info@ktmc.com.

DEFENDANTS’ ALLEGED MISCONDUCTIn November 2023, Roblox provided investors with material information concerning the company's expected revenue for the first quarter of 2024 and fiscal year 2024. This was the first time Roblox offered earnings and revenue guidance to its investors since the company went public in 2021. Roblox's statements included, among other things, that Roblox expected $4.14 billion to $4.28 billion of "bookings" in fiscal year 2024—reflecting 25%-27% annual growth—and $3.3 billion to $3.4 billion annual revenue.

Then on February 7, 2024, during an earnings call, Roblox reiterated its first quarter 2024 and fiscal year 2024 earnings projections as well as its strength in its new technology and digital economy.

On May 9, 2024, Roblox reported its financial results for the first quarter of 2024 and provided updated guidance. Among other things, Roblox advised that the company expects bookings revenue of $870 million to $900 million for the second quarter of 2024, compared to analyst expectations of $929 million, and bookings revenue of $4 billion to $4.1 billion for the full year, significantly lower than the Roblox's earlier forecast of $4.14 billion to $4.28 billion.

On this news, Roblox's stock price fell $8.61 per share, or 22.06%, to close at $30.42 per share on May 9, 2024.

WHAT CAN I DO?Roblox investors may, no later than August 12, 2024, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages Roblox investors who have suffered significant losses to contact the firm directly to acquire more information. The class action complaint against Roblox, Li v. Roblox Corp., et al., Case No. 24-cv-03484, is filed in the United States District Court for the Norther District of California.

CLICK HERETO SIGN UP FOR THE CASEOR GO TO: https://www.ktmc.com/new-cases/roblox-corporation?utm_source=PR&utm_medium=link&utm_campaign=rblx&mktm=r

WHO CAN BE A LEAD PLAINTIFF?A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLPKessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.

CONTACT:

Kessler Topaz Meltzer & Check, LLPJonathan Naji, Esq. (484) 270-1453280 King of Prussia RoadRadnor, PA 19087info@ktmc.com

May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.

NEW YORK, NY / ACCESSWIRE / July 23, 2024 / If you suffered a loss on your Roblox Corporation (NYSE:RBLX) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information:

https://zlk.com/pslra-1/roblox-lawsuit-submission-form?prid=91827&wire=1

or contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or call (212) 363-7500 to speak to our team of experienced shareholder advocates.

THE LAWSUIT: A class action securities lawsuit was filed against Roblox Corporation that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between November 15, 2023 and May 8, 2024.

CASE DETAILS: According to the complaint, on February 7, 2024, Roblox - the publisher of the Minecraft video game - issued its FY 2024 fiscal guidance. It was the first time Roblox issued a fiscal guidance to investors.

Then, on May 9, 2023, Roblox hosted its quarterly earnings call and slashed its guidance for FY 2024. Management blamed changes in player engagement for the guidance reduction.

Analysts expressed dismay at the rapidly reduced guidance, with one analyst noting Roblox made the cut "at one of its first real opportunities to do so." Other analysts reported the reduced guidance "may raise concerns regarding management's visibility into core bookings growth" and the Company "will be burdened by a management credibility issue over the near term."

Following the earnings call, RBLX shares fell $8.61, or 22% overnight.

WHAT'S NEXT? If you suffered a loss in Roblox stock during the relevant time frame - even if you still hold your shares - go to https://zlk.com/pslra-1/roblox-lawsuit-submission-form?prid=91827&wire=1 to learn about your rights to seek a recovery. There is no cost or obligation to participate.

WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.

CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. Ed Korsinsky, Esq. 33 Whitehall Street, 17th Floor New York, NY 10004jlevi@levikorsinsky.com Tel: (212) 363-7500 Fax: (212) 363-7171https://zlk.com/

SOURCE: Levi & Korsinsky, LLP