RBLX - ROBLOX ALERT: Bragar Eagel & Squire P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Roblox Corporation and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, Dec. 04, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against Roblox Corporation ("Roblox" or the "Company") (NYSE:RBLX) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired Roblox securities between March 10, 2021 and February 15, 2022, both dates inclusive (the "Class Period"). Investors have until January 26, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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Roblox operates a platform that provides developers with tools to create online games and hosts the games on its servers. 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.
The Complaint alleges that throughout the Class Period, Roblox reported strong bookings and revenue growth. The Company attributed this growth to various factors, including the positive effect from COVID stay-at-home orders, its technology investments, and "high-quality" ...