Investing.com -- Roblox Corp (NYSE:RBLX)., the popular video-game service frequented by millions of young users, is currently under investigation by the US Securities and Exchange Commission (SEC). The SEC confirmed the ongoing probe into the company, according to details collected by Bloomberg News.
The information came to light when the SEC responded to a Freedom of Information Act request on Friday. The commission declined to share any communication between its staff members that mentioned Roblox, stating that such disclosure could potentially harm the ongoing enforcement proceedings.
The SEC’s Division of Enforcement confirmed that there were emails exchanged among its staff that mentioned Roblox and that these emails were part of an ongoing investigation. However, the exact subject of the investigation remains unconfirmed by Bloomberg News.
Roblox Corp. has not responded to requests for comments on this matter. Similarly, the SEC has refrained from making any further comments on this issue.
The news of the SEC’s investigation into Roblox Corp. was first reported by Hunterbrook Media in November, which cited Freedom of Information Act requests. In an October letter, the commission had mentioned withholding documents that could potentially interfere with enforcement activities. It’s important to note that Hunterbrook Capital, an affiliate of Hunterbrook Media, held a short position in Roblox’s shares.
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