NEW YORK, June 11, 2024 (GLOBE NEWSWIRE) — The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Roblox, Corp. (“Roblox” or the “Company”) (NYSE: RBLX) between November 15, 2023 and May 8, 2024, both dates inclusive. You are hereby notified that the class action lawsuit Eugene Li v. Roblox Corporation, et al. (Case No. 3:24-cv-03484) has been commenced in the United States District Court for the Northern District of California. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.
The complaint alleges that 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.
If you suffered a loss in RBLX securities, you have until August 12, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our 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.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
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