The popular online game Roblox is currently under investigation by the U.S. Securities and Exchange Commission (SEC), according to a recent Bloomberg report. While the SEC confirmed the existence of an "active and ongoing investigation" referencing Roblox, details remain scarce. The commission cited ongoing enforcement proceedings as the reason for withholding further information regarding the nature and scope of the investigation. Roblox itself has not yet commented on the matter.
Roblox has faced scrutiny in the past. Last October, a report alleged the company inflated its daily active user (DAU) statistics and created a harmful environment for children. Roblox vehemently denied these claims, emphasizing its commitment to safety and civility. The company acknowledged potential inaccuracies in DAU figures due to undetected fraud and unauthorized access, and announced significant updates to its safety systems and parental controls in 2024. Prior to this, Roblox faced lawsuits in 2023 from families alleging misleading claims about the platform's safety for children. A 2021 report also examined potential exploitation of creators through user-generated content.
Last week, Roblox shares dropped 11% following the announcement of 85.3 million daily active users—falling short of analyst predictions. Despite this, CEO David Baszucki reiterated the company's commitment to investing in its virtual economy, app performance, and AI-driven safety and discovery features.
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