Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of all purchasers of common stock of WEBTOON Entertainment Inc. (NASDAQ: WBTN) pursuant and/or traceable to the Company’s initial public offering conducted in June 2024 (the “IPO”). WEBTOON describes itself as an “entertainment company focused on mobile webcomics and visual storytelling.”

For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.

The Allegations: Rosen Law Firm is Investigating the Allegations that WEBTOON Entertainment Inc. (NASDAQ: WBTN) Misled Investors Regarding its Business Operations.

According to the lawsuit, the Registration Statement made materially false and/or misleading statements and/or failed to disclose WEBTOON’s business, operations, and prospects. Specifically, defendants failed to disclose to investors that: (1) WEBTOON experienced a deceleration in advertising revenue growth; (2) WEBTOON experienced a deceleration in intellectual property (“IP”) adaptations revenue; (3) WEBTOON experienced exposure to weaker foreign currencies which offset revenue growth; (4) as a result of the foregoing, defendants’ positive statements about WEBTOON’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

What Now: You may be eligible to participate in the class action against WEBTOON Entertainment Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by November 4, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240906579607/en/