Wed Sep 18 17:38:00 UTC 2024: ## Webtoon Entertainment Inc. Faces Lawsuit Over Alleged Misleading Statements

**NEW YORK, Sept. 18, 2024** – The Gross Law Firm has announced a class action lawsuit against Webtoon Entertainment Inc. (NASDAQ: WBTN) on behalf of shareholders who purchased the company’s stock during its June 2024 initial public offering. The lawsuit alleges that Webtoon made misleading statements about its financial performance, including its advertising and IP adaptation revenue growth, and its exposure to foreign currency fluctuations.

The lawsuit claims that Webtoon failed to disclose that its advertising revenue growth had slowed, its IP adaptation revenue was declining, and that its revenue growth was negatively impacted by weaker foreign currencies. These alleged omissions led to an inflated stock price, according to the lawsuit.

Shareholders who purchased Webtoon stock during the class period are encouraged to contact The Gross Law Firm to learn more about their rights and potential participation in the lawsuit. The deadline to register for the class action is **November 4, 2024**.

“The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship,” said the firm in a statement. “We seek recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company’s stock.”

The lawsuit is ongoing, and Webtoon has not yet issued a statement regarding the allegations.

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