Press release
Lawsuit filed for Investors who lost money with shares of WEBTOON Entertainment Inc. (NASDAQ: WBTN)
A lawsuit was filed on behalf of investors in WEBTOON Entertainment Inc. (NASDAQ: WBTN) shares.
Investors who purchased shares of WEBTOON Entertainment Inc. (NASDAQ: WBTN) have certain options and for certain investors are short and strict deadlines running. Deadline: November 4, 2024. NASDAQ: WBTN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Los Angeles, CA based WEBTOON Entertainment Inc. operates a storytelling platform worldwide. WEBTOON Entertainment Inc went public in June 2024, and sold 15,000,000 shares of common stock at a price to the public of $21.00 per share in its initial public offering ("IPO").
On August 8, 2024, WEBTOON Entertainment Inc reported second-quarter 2024 revenue of $321 million, which fell short of analysts' forecast of $340.8 million.
Shares of WEBTOON Entertainment Inc. (NASDAQ: WBTN) declined to as low as $11.15 per share on August 12, 2024.
The plaintiff claims that between June 24, 2024 to September 5, 2024, the Defendants failed to disclose to investors that the Company experienced a deceleration in advertising revenue growth, that the Company experienced a deceleration in IP adaptations revenue, that the Company experienced exposure to weaker foreign currencies which offset revenue growth, and that 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.
Those who purchased shares of WEBTOON Entertainment Inc. (NASDAQ: WBTN) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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