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Ohio sues gaming giant Roblox on behalf of pensioners who've lost $21.5M after stock plummets
['Scripps News Group']
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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 protections on its digital platform.
“Roblox lied to investors and failed to protect children from online predators,” Wilson said in a release announcing the suit.
"It's a bit of a novel case," said Eric Chafee, co-director of Case Western's Business Law Center.
Although the company's value has dropped, it still remains valued at over $25 billion, seeing around 150 million users daily.