Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of WEBTOON Entertainment Inc. regarding a class action lawsuit related to misleading statements made by the company during its initial public offering in June 2024 [1][2]. Group 1: Allegations - The lawsuit alleges that WEBTOON Entertainment Inc. made materially false and misleading statements, failing to disclose a deceleration in advertising revenue growth [2]. - The company also allegedly did not disclose a deceleration in revenue from IP adaptations and exposure to weaker foreign currencies, which negatively impacted revenue growth [2]. - As a result of these issues, the positive statements made by the defendants about the company's business and prospects were deemed materially misleading [2]. Group 2: Class Action Details - The class period for the lawsuit is tied to the shares purchased during the registration statement and prospectus issued in connection with the June 2024 IPO [1]. - Shareholders are encouraged to register for the class action by the deadline of November 4, 2024, to potentially be appointed as lead plaintiffs [3]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the status of the case [3]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors who have suffered losses due to deceit and illegal business practices [4]. - The firm aims to ensure that companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements that inflated stock prices [4].
Contact The Gross Law Firm by November 4, 2024 Deadline to Join Class Action Against WEBTOON Entertainment Inc.(WBTN)