SAN DIEGO, Feb. 07, 2025 (GLOBE NEWSWIRE) — Johnson Fistel, LLP announces it is investigating whether certain directors and officers of WEBTOON Entertainment Inc. (NASDAQ: WBTN) breached their fiduciary duties to the shareholders.
What Actions Can Shareholders Take? If you have continuously owned your shares, you may have legal claims against the Company’s directors and officers. To learn more or join the action, visit: https://www.cognitoforms.com/JohnsonFistel/WEBTOONEntertainmentInc. To discuss this notice or your legal rights, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
What Is This About? Recently a class action complaint was filed against the company. According to the Complaint, the Company made false and misleading statements to the market. Webtoon reported its second quarter 2024 financials on August 8, 2024, just six weeks after its initial public offering (IPO). The Company’s revenue of $321 million fell short of analysts’ forecasts. Based on this shortfall, shares of Webtoon fell by 38.1% on the same day. Based on these facts, the Company’s public statements were false and materially misleading throughout the IPO period. When the market learned the truth about Webtoon, investors suffered damages.
Johnson Fistel’s investigation aims to determine whether senior officers or board members breached fiduciary duties or violated securities laws in connection with these events.
About Johnson Fistel, LLP: Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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Contact:
Johnson Fistel, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
[email protected] or [email protected]
