(MENAFN- PR Newswire)
LOS ANGELES, Oct. 21, 2024 /PRNewswire/ -- The Schall Law Firm , a national shareholder rights litigation firm, announces the filing of a class action lawsuit against
WEBTOON Entertainment Inc. ("Webtoon" or "the Company") (NASDAQ: WBTN ) for violations of the federal securities laws.
Investors who purchased the Company's securities pursuant and/or traceable to the Company's Offering Documents in connection with its initial public offering ("IPO") conducted on or about June 27, 2024, are encouraged to contact the firm before November 4, 2024.
If you are a shareholder who suffered a loss, click here to participate .
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at
, or by email at
[email protected] .
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Webtoon reported its second quarter 2024 financials on August 8, 2024, just six weeks after its initial public offering (IPO). The Company's revenue of $321 million fell short of analysts' forecasts. Based on this shortfall, shares of Webtoon fell by 38.1% on the same day. Based on these facts, the Company's public statements were false and materially misleading throughout the IPO period. When the market learned the truth about Webtoon, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
Office: 310-301-3335
[email protected]
SOURCE The Schall Law Firm
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