The rumors that Roblox is shutting down emerged as lawsuits allege the gaming platform is not a safe environment for minors.

Roblox posted strong fiscal second-quarter results earlier this month. Bookings jumped 51% to $1.44 billion, beating estimates.

There are rumors circulating that Roblox will be banned on Sept. 1? So is Roblox actually shutting down? Here's the truth and what's happening.