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 further details. Roblox itself has not yet commented on the investigation.
This investigation comes amidst prior scrutiny of Roblox. Last October, a report alleged the company inflated its daily active user (DAU) figures and created a harmful environment for children. Roblox vehemently denied these claims, emphasizing its commitment to safety and civility. The company acknowledged the possibility of undetected fraud and unauthorized access impacting DAU statistics and announced significant updates to its safety systems and parental controls in 2024.
Previous legal actions against Roblox include lawsuits filed in 2023 by families alleging misleading statements about the platform's safety for children. A 2021 report also examined the potential exploitation of creators through user-generated content on the platform.
Recently, Roblox shares experienced an 11% drop following the announcement of 85.3 million daily active users, falling short of analyst expectations. Roblox CEO David Baszucki stated the company's continued focus on its virtual economy, app performance, and AI-driven safety and discovery features.
