Labaton Sucharow, a nationally ranked and award-winning shareholder rights law firm, announces that it is investigating Roblox Corp. ("Roblox" or the "Company") (NYSE: RBLX) for potential breach of fiduciary duty and violations of the federal securities laws.
On April 19, 2022, Truth in Advertising Inc. (“TINA.org”) announced it filed a complaint with the Federal Trade Commission stating that Roblox “advertising is surreptitiously pushed in front of millions of consumers, including more than 25 million children and adolescents, by a multitude of companies and their avatar influencers. Such digital deception is possible because Roblox has failed to establish any meaningful guardrails to ensure compliance with truth in advertising laws….” The complaint goes on to say that “Companies and influencers have jumped into the Roblox metaverse with reckless abandon – exploiting children’s inability to distinguish organic content from marketing, and manipulating them and other Roblox users with undisclosed promotions that are nearly identical to organic virtual items and experiences on the platform.”
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About the Firm
Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, corporate governance and shareholder rights, consumer, and cybersecurity and data privacy litigation, as well as whistleblower representation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at labaton.com.
David J. Schwartz