Investors who lost money on WEBTOON Entertainment shares

Investors in WEBTOON Entertainment Inc. (NASDAQ: WBTN) have been advised of an investigation into possible violations of securities laws by WEBTOON Entertainment Inc.

Investors who have purchased shares of WEBTOON Entertainment Inc. (NASDAQ: WBTN) have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 – 1554.

A law firm's investigation focuses on whether a series of statements made by WEBTOON Entertainment Inc. regarding its business, prospects and operations were materially false and misleading when made.

WEBTOON Entertainment Inc., based in Los Angeles, California, operates a global storytelling platform. WEBTOON Entertainment Inc. reported that its total annual revenue increased from $1.07 billion in 2022 to over $1.28 billion in 2023 and that its net loss decreased from $129.87 million in 2022 to $116.45 million in 2023.

WEBTOON Entertainment Inc. went public in June 2024, selling 15,000,000 shares of its common stock at a price of $21.00 per share in its initial public offering (“IPO”).

On August 8, 2024, WEBTOON Entertainment Inc. reported revenue of $321 million for the second quarter of 2024, falling short of analysts' forecast of $340.8 million.

WEBTOON Entertainment Inc. (NASDAQ: WBTN) shares fell to as low as $11.15 per share on August 12, 2024.

Purchasers of WEBTOON Entertainment Inc. (NASDAQ: WBTN) stock have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suites 423
San Diego, CA 92108
Phone: +1-(858)-779-1554
Email: [email protected]

About Shareholders Foundation, Inc.
Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service and investor advocacy organization that conducts research on shareholder issues and informs investors about securities lawsuits, settlements, verdicts and other legal news related to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and provides assistance, support and help to any shareholder. Shareholders Foundation, Inc. is not a law firm. The cases, investigations and/or settlements mentioned are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This press release was published on openPR.