Ohio — Ohio Attorney General Andy Wilson is seeking to take the lead in a securities class-action lawsuit accusing Roblox of misleading investors about the safety of children using its online gaming platform
The Ohio Attorney General’s Office filed a motion Friday seeking lead-plaintiff status on behalf of the Ohio Public Employees Retirement System (OPERS) and the State Teachers Retirement System of Ohio (STRS).
The lawsuit alleges that Roblox, a California-based video game company, portrayed its platform as a safe environment for children while failing to implement adequate protections against online predators.
“Roblox lied to investors and failed to protect children from online predators,” Wilson said. “We’re taking action to recover millions in lost pension funds and to make it clear that tech companies must be held accountable when they put kids in harm’s way.”
According to the Attorney General’s Office, OPERS and STRS suffered a combined $21.5 million in investment losses between October 2024 and April 2026.
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The lawsuit alleges that Roblox’s public statements about child safety did not accurately reflect conditions on its platform. The complaint claims the company’s safety practices left children vulnerable to inappropriate content and potential exploitation.
The allegations became more prominent following regulatory actions that led Roblox to introduce additional safety measures, including mandatory age verification and restrictions on communications between adults and minors.
According to the lawsuit, Roblox disclosed in April 2026 that the new safety measures had significantly affected user growth and resulted in the company lowering its annual revenue projection by approximately $1 billion.
The disclosure was followed by an approximately 18% decline in Roblox’s stock price, according to the Attorney General’s Office, wiping out an estimated $6 billion in market value.
The securities lawsuit is pending in the U.S. District Court for the Northern District of California. In addition to Roblox, company executives David Baszucki, Naveen Chopra and Michael Guthrie are named as defendants.
The lawsuit seeks financial damages for investors who allegedly suffered losses as a result of the company’s conduct.
The allegations contained in the lawsuit have not been proven in court, and the defendants are entitled to respond to the claims.
