Press release
Investors who lost money with shares of WEBTOON Entertainment Inc. (NASDAQ: WBTN) should contact the Shareholders Foundation in connection in Investigation
An investigation for investors in WEBTOON Entertainment Inc. (NASDAQ: WBTN) shares over potential securities laws violations.
Investors who purchased shares of WEBTOON Entertainment Inc. (NASDAQ: WBTN), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by WEBTOON Entertainment Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Los Angeles, CA based WEBTOON Entertainment Inc. operates a storytelling platform worldwide. WEBTOON Entertainment Inc reported that its annual Total Revenue rose from $1.07 billion in 2022 to over $1.28 billion in 2023, and that its Net Loss declined from $129.87 million in 2022 to $116.45 million in 2023.
WEBTOON Entertainment Inc went publich in June 2024, and sold 15,000,000 shares of common stock at a price to the public of $21.00 per share in its initial publich offering ("IPO").
On August 8, 2024, WEBTOON Entertainment Inc reported second-quarter 2024 revenue of $321 million, which fell short of analysts' forecast of $340.8 million.
Shares of WEBTOON Entertainment Inc. (NASDAQ: WBTN) declined to as low as $11.15 per share on August 12, 2024.
Those who purchased shares of WEBTOON Entertainment Inc. (NASDAQ: WBTN) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements 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.
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