ATLANTA, GA – – (Globe Newswire – September 6, 2024) – – A shareholder class action lawsuit has been filed against WEBTOON Entertainment Inc. (“WEBTOON” or “the Company”) (NASDAQ: WBTN). The lawsuit alleges that WEBTOON’s Registration Statement was materially false and misleading and/or omitted to state that: (1) the Company experienced a deceleration in advertising revenue growth; (2)  the Company experienced a deceleration in IP adaptations revenue; (3) the Company experienced exposure to weaker foreign currencies which offset revenue growth; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you bought shares of WEBTOON stock prior to September 5, 2024, and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey D. Holzer, Esq. at cholzer@holzerlaw.com, by toll-free telephone at (888) 508-6832 or you may visit the firm’s website at www.holzerlaw.com/case/webtoon-entertainment/ to learn more.

The deadline to ask the court to be appointed lead plaintiff in the case is November 4, 2024.