Lawsuit Pending for Investors in WEBTOON Entertainment Inc. (NASDAQ: WBTN) Shares – Contact Shareholders Foundation for Assistance

Investors in WEBTOON Entertainment Inc. (NASDAQ:WBTN) are facing a potential lawsuit over alleged securities laws violations by the company. The lawsuit stems from a recent decline in revenue and stock price, prompting an investor to take legal action against WEBTOON Entertainment Inc.

On August 8, 2024, WEBTOON Entertainment Inc reported second-quarter revenue that fell short of analysts’ forecasts, leading to a decline in the company’s stock price. This decline continued, with shares reaching as low as $11.15 per share on August 12, 2024.

The lawsuit, filed on September 5, 2024, alleges that WEBTOON Entertainment Inc failed to disclose key information to investors, including a deceleration in advertising revenue growth, IP adaptations revenue, and exposure to weaker foreign currencies. These alleged omissions led to misleading statements about the company’s business and prospects.

Investors who purchased shares of WEBTOON Entertainment Inc between June 24, 2024, and September 5, 2024, or held shares prior to June 2024, are encouraged to contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554 to explore their legal options.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service that provides information on shareholder issues, securities class actions, settlements, and other legal news related to the stock market. Investors should be aware of their rights and options in light of this pending lawsuit against WEBTOON Entertainment Inc.