Ohio Sues Gaming Giant Roblox on Behalf of Pensioners Who've Lost $21.5M After Stock Plummets
Wilson says Roblox’s child-safety claims misled investors and fueled billions in losses, while the company cites new age checks and parental controls.
- On Friday, Ohio Attorney General Andy Wilson filed a motion to lead a class-action lawsuit against California-based Roblox Corp. on behalf of the Ohio Public Employees Retirement System and the State Teachers Retirement System.
- Wilson alleges that Roblox falsely marketed its platform as a safe environment while failing to implement basic screening tools, leaving children vulnerable to exploitation by online predators.
- The disclosures triggered an 18% stock plunge, wiping out $6 billion in market value and costing the Ohio pension systems a combined $21.5 million from October 2024 through April 2026.
- Pending in the U.S. District Court for the Northern District of California, the lawsuit names executives David Baszucki, Naveen Chopra, and Michael Guthrie as defendants, seeking financial damages.
- Earlier this year, Indiana Attorney General Todd Rokita sued the developer, which subsequently lowered its annual revenue projection by $1 billion; Wilson stated, "We're taking action to recover millions in lost pension funds and to make it clear that tech companies must be held accountable.
24 Articles
24 Articles
Ohio sues gaming giant Roblox on behalf of pensioners who've lost $21.5M after stock plummets
Gaming giant Roblox has been the subject of many lawsuits in recent years, most related to the harm and potential harm caused to minors through its failures to protect kids from online predators. A new suit filed by Ohio Attorney General Andy Wilson is on behalf of Ohio pensioners.Wilson is seeking lead-plaintiff status in a securities class-action lawsuit accusing video game developer Roblox of misleading investors about child-safety protection…
Ohio pension funds lost $21.5M on Roblox, AG claims
COLUMBUS, Ohio -- Attorney General Andy Wilson is seeking to lead a class action lawsuit against the wildly popular online gaming platform Roblox, saying the developer misled investors and caused financial losses for two major Ohio pension funds.
Ohio AG seeks to lead class-action lawsuit against Roblox - Peak of Ohio
The office of Ohio Attorney General Andy Wilson is seeking lead-plaintiff status in a securities class-action lawsuit accusing video game developer Roblox of misleading investors about child-safety protections on its digital platform. “Roblox lied to investors and failed to protect children from online predators,” Wilson […]
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
