PHILADELPHIA, Oct. 26, 2024 (GLOBE NEWSWIRE) — A securities class motion lawsuit has been filed in opposition to WEBTOON Leisure Inc. (WEBTOON or the Firm) (NASDAQ: WBTN). The lawsuit has been filed on behalf of purchasers of WEBTOON securities between June 24, 2024 and September 5, 2024, inclusive (the Class Interval).
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Buyers who bought or acquired WEBTOON securities throughout the Class Interval could, no later than NOVEMBER 4, 2024, search to be appointed as a lead plaintiff consultant of the category.
WEBTOON, headquartered in Los Angeles, is an leisure firm that operates a storytelling platform worldwide. Within the Firm’s IPO on or about June 27, 2024, WEBTOON offered greater than 16.3 million shares of frequent inventory at $21.00 per share for web proceeds of approx. $308.5 million.
In accordance with the grievance, the IPO registration assertion misled traders concerning the truth that: (1) WEBTOON had skilled a deceleration in promoting income progress; (2) WEBTOON had skilled a deceleration in IP diversifications income; and (3) WEBTOON had skilled publicity to weaker foreign currency, which offset income progress.
For extra data or to discover ways to take part on this litigation, please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.web or (215) 875-3015, or Peter Hamner at phamner@bm.web or (215) 875-3048, or CLICK HERE.
A lead plaintiff is a consultant get together who acts on behalf of all class members in directing the litigation. The lead plaintiff is normally the investor or small group of traders who’ve the biggest monetary curiosity and who’re additionally ample and typical of the proposed class of traders. The lead plaintiff selects counsel to signify the lead plaintiff and the category and these attorneys, if permitted by the courtroom, are lead or class counsel. Your capacity to share in any restoration will not be, nonetheless, affected by the choice whether or not or to not function a lead plaintiff. Speaking with any counsel will not be essential to take part or share in any restoration achieved on this case. Any member of the purported class could transfer the Courtroom to function a lead plaintiff via counsel of his/her selection, or could select to do nothing and stay an inactive class member.
Berger Montague, with workplaces in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class motion litigation since its founding in 1970. Berger Montague has represented particular person and institutional traders for over 5 many years and serves as lead counsel in courts all through the USA.
Contact:
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.web
Peter Hamner
Berger Montague PC
(215) 875-3048
phamner@bm.web