NEW YORK, Oct. 09, 2024 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP has filed a class action securities lawsuit against investors in WEBTOON Entertainment Inc. (“WEBTOON Entertainment Inc.” or the “Company”) (NASDAQ: WBTN). I have been notified of the lawsuit. .
Type Definition: This lawsuit seeks to recover losses on behalf of investors of WEBTOON Entertainment Inc. who were adversely affected by alleged securities fraud. This lawsuit represents individuals and entities who purchased or acquired Webtoon common stock pursuant to and/or traceable to the registration statement and prospectus issued in connection with the Company’s June 2024 initial public offering. will be raised. Click the link below for more information. A member of our team will contact you.
WBTN investors may also contact Joseph E. Levi. Contact us by email at jlevi@levikorsinsky.com or by phone at (212) 363-7500.
Case Details: The complaint filed alleges that the defendants made false statements and/or concealed the following: (1) We experienced a slowdown in advertising revenue growth. (2) We experienced a slowdown in IP adaptation revenues. (3) The Company experienced the effects of foreign currency depreciation that 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 with WEBTOON Entertainment Inc. during the relevant period, you have until November 4, 2024 to ask the court to serve as lead plaintiff. You do not have to be the lead plaintiff to participate in the recovery.
No Cost to You: If you are a class member, you may be entitled to compensation without paying any out-of-pocket costs or fees. There is no cost or obligation to participate.
Why Levi & Korsinski: Over the past 20 years, the Levi & Korsinski team has built a track record of securing hundreds of millions of dollars for injured shareholders and winning high-stakes litigation. I’m here. The firm has extensive expertise representing investors in complex securities litigation and a team of more than 70 employees to serve our clients. Levi & Korsinsky has been ranked as one of the top securities litigation firms in the United States for seven consecutive years in the ISS Securities Class Action Services Top 50 report.
contact:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinski, Esq.
33 Whitehall Street, 17th floor
New York, NY 10004
jlevi@levikorsinsky.com
Phone number: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com