THE LAWSUIT: This lawsuit is on behalf of persons and entities that purchased or otherwise acquired Webtoon common stock pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s June 2024 initial public offering.
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CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed 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; (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 suffered a loss in WEBTOON Entertainment Inc. stock during the relevant time frame – even if you still hold your shares – go to https://zlk.com/pslra-1/webtoon-entertainment-inc-lawsuit-submission-form?wire=18 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/
