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Ohio Attorney General seeks lead status in Roblox securities suit

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Ohio Attorney General Andy Wilson’s office seeks lead-plaintiff status in a securities class-action accusing Roblox of misleading investors about child-safety protections on its platform. The suit alleges Roblox failed to prevent online predator exploitation, driving major investor losses, including $21.5 million for OPERS and STRS. Roblox later blamed safety measures for user growth plummeting and cut its revenue outlook by $1 billion, after which the stock fell 18%, wiping out about $6 billion in value.

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