NEW YORK, May 30, 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Roblox Corporation (“Roblox” or the “Company”) (NYSE: RBLX). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Roblox and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 9, 2024, Roblox reported its financial results for the first quarter of 2024 and provided updated guidance. Among other items, Roblox advised that it 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 Company’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.
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.
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CONTACT:Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP
