SAN DIEGO, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating whether WEBTOON Entertainment Inc. (“Webtoon” or the “Company”) (NASDAQ: WBTN) or any of its executive officers or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors.

What if I purchased Webtoon securities? If you purchased securities and suffered losses on your investment, join our investigation now:

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For more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471

There is no cost or obligation to you.

What is Johnson Fistel investigating? On August 8, 2024, just six weeks after its initial public offering (IPO), Webtoon reported second-quarter 2024 revenue of $321 million, which fell short of analysts’ forecast of $340.8 million. Following this announcement, Webtoon’s share price dropped by $7.88 per share, or about 38.1%, from $20.63 to $12.75 on August 8, 2024.

Specifically, Johnson Fistel's investigation seeks to determine whether the Company's filings with the U.S. Securities and Exchange Commission in connection with its June 2024 IPO and subsequent investor communications contained untrue statements of material facts or omitted to state other facts necessary to make the statements made therein not misleading concerning the Company's business, and operations.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, 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
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com