Roblox Accused of Misleading Stockholders on Age Verification

A proposed class action against Roblox Corp. claims the online gaming company misled investors about its expected growth after implementing a new age verification system.

Roblox executives initially voiced confidence in the company’s expected “tremendous organic growth” to offset any slowdowns caused by its new age verification system, according to the suit filed Monday in the US District Court for the Northern District of California against Roblox and several executives.

“In truth, Roblox misled investors when discussing tailwinds resulting from the age verification process” and “failed to communicate to investors the potential knock-on impacts of the age verification rollout, including ...