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One of Wall Street’s most aggressive short sellers has launched a shocking attack on gaming company Roblox, alleging management at the company have inflated performance numbers while cashing out tens of millions of dollars for themselves as their platform devolved into a “pedophile hellscape for kids.”
“We totally reject the claims made in the report,” said Roblox, in a statement to the Daily Beast. “We firmly believe that Roblox is a safe and secure platform and in the financial metrics we report.”
In its report released Tuesday, Hindenburg Research said executives and insiders at Roblox have sold $1.7 billion in stock since the company’s initial public offering in March 2021, $150 million of that in the last year. CEO David Baszucki, the firm said, has personally sold $115 million in the last twelve months.
Read more at The Daily Beast.
thedailybeast.com