The U.S. Securities and Exchange Commission (SEC) is currently investigating Roblox, a popular online game platform, according to a recent Bloomberg report. While the SEC confirmed the existence of an "active and ongoing investigation" involving Roblox through a Freedom of Information Act request, the specifics remain undisclosed. The commission cited potential harm to the ongoing proceedings as the reason for withholding details. Roblox itself has not yet commented on the investigation.
Roblox has faced scrutiny in the past. A report last October alleged the company inflated its daily active user (DAU) numbers and created a harmful environment for children. Roblox vehemently denied these claims, emphasizing its commitment to safety and civility. The company acknowledged that undetected fraud and unauthorized access could contribute to inflated DAU figures. Subsequently, in 2024, Roblox announced significant improvements to its safety features and parental controls.
Previous legal challenges include lawsuits from families in 2023 alleging misleading claims about the platform's safety for children. A 2021 report also examined Roblox's user-generated content and potential exploitation of creators.
Last week, Roblox shares experienced an 11% drop following the company's report of 85.3 million daily active users, falling short of analyst expectations of 88.2 million. CEO David Baszucki stated that the company plans to continue investing in its virtual economy, app performance, and AI-driven safety and discovery features to enhance the user experience and empower creators.
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