Hagens Berman expanded its securities class action against Roblox Corp. to cover stock purchases from October 2024 through April 2026. Investors face an Aug. 7 lead plaintiff deadline as the lawsuit alleges the company misled shareholders about the impact of its age-verification rollout on growth.
Roblox Corp. faces an expanded securities class action covering an 18-month period, with investors who bought common stock between Oct. 31, 2024 and April 30, 2026 eligible to seek lead plaintiff status by Aug. 7.
"The primary focus of the litigation is on the propriety of Roblox's disclosures about its commitment toward protecting the safety of young users," Reed Kathrein, the Hagens Berman partner leading the investigation, said.
The lawsuit alleges Roblox and senior management made false statements about platform safety while concealing that its global age-verification rollout would slow growth. When the company announced enhanced age verification technology in October 2025, shares fell 16% to $113, wiping out $13 billion in market value. By April 2026, Roblox disclosed that only 51% of global daily active users had completed age checks and slashed its 2026 bookings growth midpoint from 24% to 10%, citing "continued friction" from the rollout.
The expanded class period adds roughly 12 months of earlier purchases, broadening the pool of potential claimants. Roblox's age-verification push, which began in November 2025 and rolled out globally in January 2026, has reduced app store ratings and organic sign-ups, the company said. A separate lawsuit filed by Rosen Law Firm covers a narrower period from Oct. 30, 2025 to April 30, 2026, with the same Aug. 7 lead plaintiff deadline.
The litigation creates legal overhang for Roblox as it tries to balance safety investments with growth. The company's recent launch of Build, a mobile-first AI creation tool, aims to boost engagement and monetization, but its rollout is tied to age-checked access and additional review layers. Investors will watch for any settlement discussions or additional disclosures ahead of the company's next earnings report.
This article is for informational purposes only and does not constitute investment advice.
