According to the lawsuit, the Registration Statement made materially false and/or misleading statements and/or failed to disclose WEBTOON’s business, operations, and prospects. Specifically, defendants failed to disclose to investors that:
- WEBTOON experienced a deceleration in advertising revenue growth;
- WEBTOON experienced a deceleration in intellectual property (“IP”) adaptations revenue;
- WEBTOON experienced exposure to weaker foreign currencies which offset revenue growth;
- as a result of the foregoing, defendants’ positive statements about WEBTOON’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Attorney Advertising. Prior results do not guarantee a similar outcome.
