WEBTOON Entertainment, Inc.

Registration Deadline:

11/05/2024

Submit Your Information

A securities class action has been filed in the USDC — C.D.CA. against WEBTOON Entertainment, Inc. (WBTN) (“Webtoon” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired Webtoon common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s June 2024 initial public offering (“IPO” or the “Offering”).

 

Webtoon is an entertainment company focused on mobile webcomics and visual storytelling.

 

The complaint alleges the Registration Statement was materially false and misleading and omitted to state:

 

(1) that the Company experienced a deceleration in advertising revenue growth;

(2) that the Company experienced a deceleration in IP adaptations revenue;

(3) that the Company experienced exposure to weaker foreign currencies which offset revenue growth;

(4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis, thereby haring investors.

 

After the Company’s second quarter 2024 financial results announcement on August 8, 2024, Webtoon’s stock fell $7.88, or 38.2%, to close at $12.75 per share on August 9, 2024.

 

If you purchased Webtoon common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s June 2024 initial public offering (“IPO” or the “Offering”) and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

 

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.

If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.

An attorney will contact you at no cost to provide you information about joining the action and answer your questions. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.