Stop 'ROBLOX Corporation' from being publicly traded on the US Stock Exchange

Stop 'ROBLOX Corporation' from being publicly traded on the US Stock Exchange

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roblox dude started this petition to U.S. Securities and Exchange Commission

To the SEC,

I'm writing this petition today to inform the SEC and the public of a company called 'ROBLOX Corporation' that has applied to the SEC to become a publicly traded company on the US Stock Exchange, and that I believe that this company shouldn't be approved by the SEC as it is not a safe company to invest in, nor an ethically driven company that is willing to do anything to destroy the users that run the company.


An explanation of the 'users' that run the company;


ROBLOX is an online gaming platform that specializes in user-generated games and is purely driven by these players, also known as 'developers'. It appears as a friendly, reputable online game for people of all ages but is far more corrupt than many people are aware of.


For example, they have censored new features that negatively impact their players from being talked about, per the example below:


https://devforum.roblox.com/t/when-my-funds-will-be-verified/853130/16


This post was unlisted on their site than locked so that nobody could talk about a new feature that impacted the currency that the site uses that is paid into 'developer' accounts, and than is cashed out via a feature called 'DevEx'. DevEx takes the 'developer' or player's in-game currency and in return gives the user in real life money, which is a good feature. However, things such as randomly making payments longer and harder to get (https://devforum.roblox.com/t/incoming-adjustment-to-pending-sales-waiting-period/832724/811 make ROBLOX an unpredictable company that feels that they can do whatever they want to, and doesn't seek the approval from anyone but themselves, even though they are a user-generated company.


Another example of them having very random and corrupt policies is in their 'trading system'. Every player and developer is supposed to be treated equally, but that is not the case. As per their Terms of Service (https://en.help.roblox.com/hc/en-us/articles/115004647846-Roblox-Terms-of-Use they state under section 4A(2)(e) that "by transferring certain Content Services to other users in exchange for Robux; or (f) through such other methods as we may offer from time to time" and under section 4A(4) they state, "You may not transfer, assign, sell, gift, exchange, trade, convert, lease, sublicense, rent, or distribute Robux except through the Service and as expressly permitted by us". What both these statements mean is that only through 'services' that aren't actually specified under their Terms of Service, you can transfer ROBUX (their digital currency). However, since these services are not explicitly stated, users are left wondering what is the correct way to spend their currency and how to avoid being termed, as according to 4A(4), they can also terminate your account if you don't follow their services and rules that aren't explicitly stated, "Any disposition or attempted disposition of Robux in violation of these Terms will be void and will result in immediate termination of your Account and your license to use Robux". In essence, ROBLOX can make a case by case determination if you were 'using their services' and if not, they can terminate access to your account, which leaves room to create favorites in the community. For example, there are times where developers/users that create games and create large amounts of user traffic on ROBLOX will get special treatment because of clauses like this over basic level players and users that are supposed to be on the same level as everyone. 


Here is the problem, in essence; ROBLOX Corporation relies on players playing and developing games and spending money on memberships and in-game currencies to keep their platform running, but by continually making the user experience worse and less accessible and enjoyable for both players and developers, this makes the company less and less likely to be stable and improve, and if added to any stock exchange will just depreciate in value and will not retain value in the long term, making it an essentially useless addition and can hurt the image of the US Stock Exchange.


I hope you consider our request to deny their request to be approved onto the US Stock Exchanges and will further investigate into the company to ensure that their denial is justified.

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