Kahn Swick & Foti, LLC is reminding investors that they have until November 4, 2024, to file lead plaintiff applications in a securities class action lawsuit against WEBTOON Entertainment Inc. If they purchased the Company’s shares in connection with its June 2024 initial public offering. The lawsuit alleges that Webtoon and its executives failed to disclose material information in its IPO Registration Statement and Prospectus, resulting in a significant decline in the company’s stock price.
On August 8, 2024, the Company announced disappointing financial results for 2Q 2024, with total revenue growth of only 0.1% and a quarterly net loss of $76.6 million. This news caused shares of Webtoon to fall by more than 38%. The case is titled Brookman v. WEBTOON Entertainment Inc., et al., No. 24-cv-07553.
Investors who wish to discuss their legal rights and potential recovery for economic losses can contact KSF Managing Partner Lewis Kahn before the November 4 deadline. KSF is a boutique securities litigation law firm led by former Louisiana Attorney General Charles C. Foti, Jr., and serves a variety of clients seeking recoveries for investment losses due to corporate fraud or malfeasance by publicly traded companies.
For more information about the lawsuit and KSF, investors can visit http://ksfcounsel.com/cases/nasdaqgs-wbtn/ or contact Lewis Kahn at lewis.kahn@ksfcounsel.com or 1-877-515-1850. KSF has offices in New York, Delaware, California, Louisiana, and New Jersey.
Source
Photo credit www.globenewswire.com