DeKalb County Pension Fund v. Roblox Corporation

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA

DEKALB COUNTY PENSION FUND,

Case No. 23-cv-06618-RS Plaintiff, 11 v. ORDER GRANTING MOTION TO DISMISS, WITH LEAVE TO AMEND ROBLOX CORPORATION, et al., 13 Defendants.

15 I. INTRODUCTION This is putative class action brought on behalf of shareholders against Roblox Corporation and certain of its officers. Plaintiffs contend Roblox’s stock price was artificially inflated during the proposed class period of March 10, 2021, through February 15, 2022, as the result of misrepresentations in various public statements made by the company. Defendants move to dismiss. Because the complaint does not allege an adequate factual basis for elements of the claims, the motion will be granted, with leave to amend. 23 II. BACKGROUND Founded in 2004, Roblox operates an online video game platform that provides its users with tools to create games that are played by…