Overview

A class action lawsuit has been filed against WEBTOON Entertainment, Inc. (“Webtoon” or the “Company”) (NASDAQ: WBTN) and certain of the Company’s former senior executive officers alleging violations of the federal securities laws.  The Webtoon class action lawsuit is brought on behalf of all persons and entities who 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 (the “Class Period”).  Investors have until November 4, 2024, to seek appointment as lead plaintiff of the Webtoon class action lawsuit.

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

The Webtoon class action lawsuit alleges that Defendants’ Registration Statement was materially false and misleading and omitted to state that: (1) the Company experienced a deceleration in advertising revenue growth; (2) the Company experienced a deceleration in intellectual property 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. 

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If you purchased or otherwise acquired Webtoon securities between 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 and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]. 

The deadline to apply to the Court to serve as a lead plaintiff in the Webtoon class action lawsuit is November 4, 2024.