Core Viewpoint - WEBTOON Entertainment Inc. is facing a class action securities lawsuit due to alleged securities fraud that has adversely affected its investors [1][2]. Group 1: Lawsuit Details - The lawsuit aims to recover losses for investors who purchased WEBTOON common stock during its June 2024 initial public offering [2]. - The complaint alleges that the company made false statements and concealed critical information regarding its financial performance, including a deceleration in advertising revenue growth and IP adaptations revenue [3]. - The lawsuit also claims that the company faced exposure to weaker foreign currencies, which negatively impacted revenue growth, leading to misleading positive statements about its business prospects [3]. Group 2: Next Steps for Investors - Investors who suffered losses in WEBTOON Entertainment Inc. have until November 4, 2024, to request to be appointed as lead plaintiff in the lawsuit [4]. - Participation in the lawsuit does not require any out-of-pocket costs or fees for class members [4]. Group 3: Legal Representation - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [5]. - The firm is recognized as one of the top securities litigation firms in the United States, ranking in ISS Securities Class Action Services' Top 50 Report for seven consecutive years [5].
Levi & Korsinsky Reminds Shareholders of a Lead Plaintiff Deadline of November 4, 2024 in WEBTOON Entertainment Inc. Lawsuit – WBTN