ATLANTA, Sept. 06, 2024 (GLOBE NEWSWIRE) — A shareholder class action lawsuit has been filed against WEBTOON Entertainment Inc. (“WEBTOON” or “the Company”) (NASDAQ: WBTN). The lawsuit alleges that WEBTOON’s Registration Statement was materially false and misleading and/or omitted to state that: (1) the Company experienced a deceleration in advertising revenue growth; (2) the Company experienced a deceleration in IP adaptations revenue; (3) the Company experienced exposure to weaker foreign currencies which offset revenue growth; and (4) 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.
If you bought shares of WEBTOON stock prior to September 5, 2024, and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey D. Holzer, Esq. at cholzer@holzerlaw.com, by toll-free telephone at (888) 508-6832 or you may visit the firm’s website at www.holzerlaw.com/case/webtoon-entertainment/ to learn more.
The deadline to ask the court to be appointed lead plaintiff in the case is November 4, 2024.
Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021, 2022, and 2023, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content.
CONTACT:
Corey Holzer, Esq.
(888) 508-6832 (toll-free)
cholzer@holzerlaw.com
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