NEW YORK, Sept. 20, 2024 (GLOBE NEWSWIRE) —
WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of WEBTOON Entertainment Inc. (NASDAQ: WBTN) common stock pursuant to or in connection with the company’s June 2024 initial public offering (“IPO”) of the important November 4, 2024 lead plaintiff deadline.
As a result: If you purchase WEBTOON common stock, you may be entitled to compensation without payment of out-of-pocket costs or expenses through a contingency fee arrangement.
WHAT TO DO NEXT: To join the WEBTOON class action, go to https://rosenlegal.com/submit-form/?case_id=28596, call Attorney Phillip Kim toll free at 866-767-3653, or email case@rosenlegal.com for information about the class action. The class action has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 4, 2024. A lead plaintiff is a representative party acting in directing the litigation on behalf of other class members.
WHY ROSEN LAW FIRM: We encourage investors to select competent counsel with a proven track record of leadership. Firms that issue notices often do not have comparable experience, resources, or meaningful peer recognition. Many of these firms do not actually practice securities class actions, but are merely intermediaries that introduce clients or partner with law firms that actually practice litigation. Be wise in choosing your attorney. Rosen Law Firm represents investors around the world and concentrates its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest securities class action settlement in history against a Chinese company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services in 2017 for number of securities class action settlements. The firm has been ranked in the top four each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone, the firm secured more than $438 million for investors. In 2020, founding partner Laurence Rosen was named a Giant of Plaintiffs’ Bar by law360. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, the registration statement contained materially false and/or misleading statements and failures to disclose about WEBTOON’s business, operations, and prospects. Specifically, defendants failed to disclose to investors that: (1) WEBTOON’s advertising revenue growth had slowed; (2) WEBTOON’s intellectual property (“IP”) adaptation revenue had slowed; (3) WEBTOON had been adversely affected by weak foreign currencies, which offset its revenue growth; and (4) as a result, defendants’ positive statements about WEBTOON’s business, operations, and prospects were materially misleading and lacked a reasonable basis. When true details were released to the market, investors suffered damages, the lawsuit alleges.
To join the WEBTOON class action, go to https://rosenlegal.com/submit-form/?case_id=28596, call Attorney Phillip Kim toll free at 866-767-3653, or email case@rosenlegal.com for information about the class action.
The class has not been certified. Until a class is certified, you will not be represented by counsel unless you hire one. You are free to choose counsel, or you can opt out of appearing as a class member at this point and do nothing. Becoming a lead plaintiff has no bearing on whether an investor will receive any future recoveries.
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contact address:
Lawrence Rosen
Mr. Philip Kim
Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Phone: (212) 686-1060
Toll free: (866) 767-3653
Fax: (212) 202-3827
Email: case@rosenlegal.com
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