The US Securities and Exchange Commission (SEC) has launched an investigation involving Roblox.
As reported by Bloomberg, while the investigation is ongoing, the exact focus of the SEC’s probing remains unclear. The commission did however acknowledge the investigation was active, and said it could not currently share full details to ensure there was “no harm to the ongoing enforcement proceeding”.
The SEC was established after the 1929 Wall Street crash in a bid to protect American citizens from market manipulation. It requires public companies to submit quarterly and annual reports, as well as investigate possible violations of the securities laws.
“We have confirmed with Division of Enforcement staff that there are responsive emails between Enforcement staff referencing Roblox and that these emails are a part of an active and ongoing investigation,” an SEC spokesperson told Bloomberg, via a Freedom of Information request.