WEBTOON ALERT: Bragar Eagel & Squire, P.C. is Investigating WEBTOON Entertainment Inc. on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm

Core Viewpoint - WEBTOON Entertainment Inc. is facing a class action lawsuit alleging that the company made materially false and misleading statements in its registration statement related to its June 2024 IPO, which may have breached the board's fiduciary duties to shareholders [1][4]. Financial Performance - For Q2 2024, WEBTOON reported revenue of $321 million, reflecting a minimal growth of 0.1$76.6 million, or 70 cents per share, was reported [2]. Stock Performance - Following the financial results announcement, WEBTOON's stock price fell by $7.88, or 38.2$12.75 per share on August 9, 2024, with unusually high trading volume [3]. - The stock has traded as low as $12.45 per share, representing a decline of over 40$21.00 per share [3]. Allegations in Class Action - The class action complaint alleges that the Registration Statement failed to disclose critical information, including: 1. A deceleration in advertising revenue growth [4]. 2. A slowdown in IP adaptations revenue [4]. 3. Exposure to weaker foreign currencies that offset revenue growth [4]. 4. Misleading positive statements regarding the company's business and prospects [4].