Investors Rally for Justice in Webtoon Class Action Lawsuit

LOS ANGELES, Nov. 4, 2024 /PRNewswire/ — The Schall Law Firm, a firm focused on shareholder rights litigation, has announced the initiation of a class action lawsuit against WEBTOON Entertainment Inc. (“Webtoon” or “the Company”) WBTN for breaches of federal securities laws.

Investors who bought the Company’s securities under the Offering Documents related to its initial public offering (“IPO”) around June 27, 2024 are urged to reach out to the firm before November 4, 2024. 

Shareholders who have experienced losses are encouraged to participate in the case.

Those interested can contact Brian Schall at the Schall Law Firm, located at 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, by calling 310-301-3335. Inquiries can also be made via the firm’s website at www.schallfirm.com, or by emailing bschall@schallfirm.com.

Although this class has not yet been certified, potential participants should note that until certification, they are not represented by an attorney. Remaining inactive means you can stay an absent class member.

The complaint alleges that the Company provided false and misleading information to investors. On August 8, 2024, just six weeks post-IPO, Webtoon announced second quarter 2024 financial results that revealed revenue of $321 million, which was below analysts’ expectations. As a result, Webtoon’s stock price dropped by 38.1% that same day. These events indicate that the Company’s public statements were misleading throughout the IPO period, and investors faced significant losses when the truth emerged.

Join this case to seek recovery for your losses.

The Schall Law Firm is committed to representing investors globally and specializes in securities class action litigation and shareholder rights.

This press release may qualify as Attorney Advertising in certain jurisdictions based on applicable laws and ethical rules.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
info@schallfirm.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/wbtn-investors-have-opportunity-to-lead-webtoon-entertainment-inc-securities-fraud-lawsuit-with-the-schall-law-firm-302295053.html

SOURCE The Schall Law Firm