Ohio Attorney General filed a securities class-action against Roblox on behalf of state pension systems, seeking lead-plaintiff status and alleging the company misled investors about child-safety protections.

The complaint asserts Roblox marketed itself as a safe platform for children while operating in an unregulated environment where predators and sexual content allegedly flourished, leaving kids vulnerable to exploitation.

The filing claims Roblox’s alleged deception contributed to investor losses, including about $21.5 million for the Ohio Public Employees Retirement System and the State Teachers Retirement System of Ohio over roughly two years.

Roblox’s user metrics cited include 151.5 million daily active users in late 2025, with a reported decline into 2026 and third-party estimates around 123 million daily users.

Regulatory actions reportedly required Roblox to add mandatory age verification and limits on adult-minor communication, moves the company later said curtailed user growth.

Roblox disputes the claims, saying safety is foundational and that protections will continue to improve.

In April 2026, Roblox disclosed safety measures reduced user growth and cut annual revenue projections by about $1 billion, contributing to an 18% drop in stock and a $6 billion erosion of market value.

The Ohio attorney general’s office attributes the user and revenue declines to these mandatory safety measures, including age verification and adult-minor communication limits.

Wilson stressed aggressive enforcement against failures to protect children, framing the case as holding companies accountable for safeguarding kids.

Roblox’s stock has tumbled from a 52-week high around $142 to about $37, wiping out tens of billions in market value, though the company remains valued at over $25 billion and serves roughly 150 million daily users.

Wilson held a press conference at the Ohio Statehouse on August 10, reaffirming his commitment to online child protection and accountability for Roblox.

Experts note the case is relatively novel, with state agencies accusing Roblox of misrepresentation in securities purchases by investors.