Class Action
Dec. 28, 2023
Securities action against Roblox moved to Northern District
The lawsuit, originally filed in the Southern District of New York, accuses the children’s gaming company and three executives of misrepresenting key financial metrics and profiting $470 million by selling shares at an “artificially inflated” price.
A proposed securities class action transferred to federal court in San Francisco on Wednesday accuses children’s gaming company Roblox Corp. and three executives of misrepresenting key financial metrics and profiting $470 million by selling shares at an “artificially inflated” price.
The lawsuit was originally filed in the Southern District of New York by counsel for the proposed class of investors, Francis P. McConville of Labaton Sucharo...
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