WEBTOON Entertainment Inc. sued over securities law

NEW YORK, Oct. 9, 2024 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP notifies investors WEBTOON Entertainment Inc. (“WEBTOON Entertainment Inc.” or the “Company”) (NASDAQ: WBTN) securities class action lawsuit.

CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of WEBTOON Entertainment Inc. investors harmed by the alleged securities fraud. This lawsuit is brought on behalf of individuals and entities that purchased or otherwise acquired shares of Webtoon common stock pursuant to the registration statement and prospectus issued in connection with the Company’s June 2024 initial public offering. Follow the link below for more information and to be contacted by a member of our team:

WBTN Investors may also contact Joseph E. Levi, Esq. turn around. by email at [email protected] or by phone at (212) 363-7500.

CASE DETAILS: The lawsuit filed alleges that defendants misrepresented and/or concealed that: (1) the Company was experiencing a slowdown in advertising revenue growth; (2) The Company experienced a decline in IP customization revenue. (3) the Company was exposed to weaker foreign currencies, which negated sales growth; (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.

WHAT’S NEXT? If you have suffered a loss with WEBTOON Entertainment Inc. during the relevant period, you have until then November 4, 2024 Request that the Court appoint you as lead plaintiff. Your ability to share in any award does not require that you serve as lead plaintiff.

NO COST FOR YOU: If you are a member of a class, you may be entitled to compensation without payment of any expenses or fees. There are no costs or obligations for participation.

WHY LEVI & KORSINSKY: Over the past 20 years, the Levi & Korsinsky team has secured hundreds of millions of dollars for injured shareholders and built a track record of winning high-risk cases. Our firm has extensive experience representing investors in complex securities disputes and a team of over 70 employees serving our clients. For seven consecutive years, Levi & Korsinsky has been ranked among the top securities litigation law firms in the United States in the ISS Securities Class Action Services Top 50 report.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th floor
New York, NY 10004
[email protected]
Phone: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com