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WEBTOON Entertainment Long-Term Investor Notice: Johnson Fistel has Initiated an Investigation into the Potential Breach of Fiduciary Duties by the Board and Management

1. Johnson Fistel is investigating WBTN’s directors for possible fiduciary breaches. 2. A class action alleges WBTN misled investors about financial performance during IPO. 3. WBTN's Q2 2024 revenue was $321 million, missing forecasts significantly. 4. The company's shares dropped 38.1% after revealing disappointing financial results. 5. Investors may explore legal claims due to misleading public statements.

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FAQ

Why Very Bearish?

Legal investigations typically decrease investor confidence, as seen with similar cases where stocks have suffered post-announcements.

How important is it?

The allegations directly threaten WBTN’s credibility and future stock performance, making this highly pertinent.

Why Short Term?

Immediate investor responses to allegations can trigger short-term price drops, much like past incidents with other companies undergoing similar investigations.

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WBTNNASDAQ
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 (jimb@johnsonfistel.com) 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. Attorney advertising.Past results do not guarantee future outcomes.Services may be performed by attorneys in any of our offices. Johnson Fistel, LLP has paid for the dissemination of this promotional communication, and Frank J. Johnson is the attorney responsible for its content. Contact: Johnson Fistel, LLP501 W. Broadway, Suite 800, San Diego, CA 92101James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471jimb@johnsonfistel.com or fjohnson@johnsonfistel.com

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