Roblox investors have until Aug 7 to join securities class action

Bronstein, Gewirtz & Grossman LLC filed a securities class action against Roblox Corp. (NYSE: RBLX) and certain officers, alleging the company made false statements about its growth prospects tied to age verification features.

"The company assured investors it could minimize risks associated with age verification and accurately forecast its business performance," the complaint states, citing claims that Roblox overstated its "tremendous organic growth" potential.

The lawsuit covers investors who purchased Roblox securities between Oct. 30, 2025, and April 30, 2026. It alleges the company failed to disclose that its age verification rollout would slow user enrollment, reduce on-platform communication and hurt app store ratings, causing growth rates to decline more sharply than represented.

Roblox shares fell after the company disclosed weaker-than-expected metrics tied to the age verification rollout during the class period, according to the complaint. The Schall Law Firm filed a separate class action on the same allegations and class period, court records show.

The case highlights growing legal scrutiny of Roblox's platform safety measures. The company faces separate lawsuits from the attorneys general of Louisiana and Kentucky, as well as a civil suit in Oregon alleging a minor was groomed through the platform's chat feature. Roblox has said it uses AI to detect illicit language in chats and introduced more than 40 features in the past year to protect younger users, including requiring users to be at least 13 to send direct messages.

Investors seeking to serve as lead plaintiff must file a motion with the court by Aug. 7, 2026. Lead plaintiff status allows an investor to direct the litigation on behalf of the class. Bronstein, Gewirtz & Grossman represents investors on a contingency fee basis, with fees and expenses subject to court approval.

This article is for informational purposes only and does not constitute investment advice.