Ohio Attorney General Andy Wilson has filed a motion to become lead plaintiff in a securities class-action lawsuit against Roblox, accusing the company of misleading investors about child safety protections. The suit, pending in the U.S. District Court for the Northern District of California, alleges Roblox falsely portrayed its platform as safe for children while failing to prevent exploitation by online predators. It claims the Ohio Public Employees Retirement System and the State Teachers Retirement System of Ohio together lost $21.5 million from October 2024 through April 2026. The complaint points to an April 2026 disclosure that mandatory safety measures caused user growth to plummet and reduced the annual revenue projection by $1 billion, triggering an 18% stock drop that erased $6 billion in market value. Roblox executives David Baszucki, Naveen Chopra, and Michael Guthrie are also named as defendants.
Roblox CorpLawsuit alleges misleading investors about child safety, leading to investor losses and stock drop.
