Roblox Misled Investors in Guidance About Growth, Suit Says

Roblox Corp. cited new platforms and digital technology in optimistic growth projections before blaming the same factors when revising its guidance six months later, an investor said in a new suit.

The May 8 downward revision of fiscal year 2024 “bookings,” or in-game purchases, and total revenue caused a 22% stock drop the following day, shareholder Eugene Li says. He filed the proposed class action Monday in the US District Court for the Northern District of California.

It’s at least the second time game maker Roblox has been sued over growth tied to bookings. The company touted growth after it ...