NEWTOWN, Pa. , Oct. 8, 2024 /PRNewswire/ -- Edelson Lechtzin LLP , a leading class action law firm, is investigating potential securities fraud and breach of fiduciary duty claims on behalf of investors in Roblox Corporation (NASDAQ: RBLX) common stock.
Roblox investors with substantial losses and witnesses with non-public information about the company are urged to contact Edelson Lechtzin LLP at 844-696-7492 , by e-mail at [email protected] , or online HERE . THE ALLEGED WRONGDOING: Roblox, based in San Mateo, California , operates an online video game platform that lets gamers create, develop, and monetize games for other players.
On October 8, 2024 , before the market opened, Hindenburg Research issued a report accusing Roblox of "lying to investors, regulators, and advertisers about the number of 'people' on its platform, inflating the key metric by 25-42%+." In addition, Roblox is alleged to have artificially inflated engagement hours, another key metric, by an estimated 100%. Even worse, the report claims "Roblox's social media features allow pedophiles to efficiently target hundreds of children, with no up-front screening to prevent them from joining the platform.
" ABOUT EDELSON LECHTZIN LLP: Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California . In addition to cases involving securities and investment fraud , our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrus.
