SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Roblox Corporation - RBLX

PRNewswire 18-Jul-2024 2:19 PM

NEW YORK, July 18, 2024 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Roblox Corporation ("Roblox" or the "Company") (NYSE:RBLX). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether Roblox and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until August 9, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Roblox securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.

[Click here for information about joining the class action]

On May 8, 2024, Roblox hosted its earnings call for the first quarter of 2024 and released its associated financial reports.  The Company announced that it was reducing its previously-announced bookings guidance to $4.0 billion for 2024.  It also announced bookings growth of only 19% for the first quarter of 2024. Roblox attributed the results to its digital economy, new purchasable items, and platform expansion. 

On this news, Roblox's stock price fell $10.12 per share, or 24.96%, over the following two trading sessions, to close at $30.42 per share on May 9, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, 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 billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980

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SOURCE Pomerantz LLP