WEBTOON CLASS ACTION LAWSUIT: AN ASSIDUOUSLY MAGISTERIAL INVESTOR GUIDE

WEBTOON SUBMISSION FORM

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INTRODUCTION TO THE WEBTOON CLASs ACTION LAWSUIT

Contact us today for a free case evaluation in the WEBTOON class action lawsuit

The WEBTOON class action lawsuit seeks to represent purchasers or acquirers of WEBTOON Entertainment Inc. (NASDAQ: WBTN) common stock pursuant and/or traceable to WEBTOON’s registration statement issued in connection with WEBTOON’s June 27, 2024 initial public offering (“IPO”).  Captioned Brookman v. WEBTOON Entertainment Inc., No. 24-cv-07553 (C.D. Cal.), the WEBTOON class action lawsuit charges WEBTOON and certain of WEBTOON’s top executives and directors, as well as certain underwriters of WEBTOON’s IPO, with violations of the Securities Act of 1933.

If you have suffered losses in WEBTOON stock and are interested in becoming the lead plaintiff in the WEBTOON class action lawsuit or have any inquiries regarding your rights as a shareholder, please reach out to WEBTOON Stock Loss Lawyer Timothy L. Miles at no cost. You can contact him by calling 855/846-6529, sending an e-mail to [email protected], or filling out a contact form below. Lead plaintiff motions for the WEBTOON ​class action lawsuit must be filed with the court no later than November 6, 2024.

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allegations in the WEBTOON CLASS ACTION lawsuit

WEBTOON is an entertainment company that operates a storytelling platform worldwide. The key allegations in the WEBTOON ​class action lawsuit can be summarized:
• IPO Details:

• Sold over 16.3 million shares of common stock
• Priced at $21.00 per share
• Net proceeds: Approximately $308.5 million

• CLASS ACTION ALLEGATIONS:
WEBTOON allegedly failed to disclose:

1. Deceleration in advertising revenue growth
2. Slowdown in IP adaptations revenue

• Exposure to weaker foreign currencies offsetting revenue growth​

Financial Results (Q2 2024):

• Total revenue: $321 million (0.1% growth)
• Advertising revenue: 3.6% decline
• IP adaptations revenue: 3.7% decline
• Net loss: $76.6 million

Stock Performance Post-IPO:

• 38% drop following Q2 2024 financial results announcement
• Stock traded as low as $12.45 per share
• Represents over 40% decline from IPO price

• WEBTOON cited "significant exposure to weaker foreign currencies" as a factor offsetting revenue    growth
• The lawsuit claims the IPO registration statement was materially false and misleading

THE LEAD PLAINTIFF DEADLINE IN THE CLASS ACTION against WEBTOON

​Lead plaintiff motions for the WEBTOON class action lawsuit ​must be filed with the court no later than November 4, 2024.​ When a securities class action is filed such as the WEBTOON class action lawsuit:

1. The person who files the first complaint is required to publish a notice announcing the filing.
2. Anyone who wants to be lead plaintiff on behalf of the class must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published. 

YOU HAVE TWO CHOICES IF YOU RECEIVE A NOTICE IN THE WEBTOON CLASS ACTION LAWSUIT

​First, read the notice very carefully.  You have two choices. 

• First, you can do nothing and remain a member of the class represented by lead counsel. 
• Second, if you believe you have a large enough loss to justify it, you can opt out of the WEBTOON class action lawsuit and file your own separate lawsuit.

​Note, that if you opt-out, you will not be able to participate in any settlement or recovery obtained in the WEBTOON class action lawsuit.

THE LEAD PLAINTIFF PROCESS IN THE WEBTOON class action LAWSUIT

Give WEBTOON stock loss lawyer Timothy L. Miles a call today about the WEBTOON class action lawsuit

Under the Private Securities Litigation Reform Act of 1995 (PSLRA):

• Any investor who purchased and suffered losses in WEBTOON stock may seek appointment as lead plaintiff in the WEBTOON class action​ lawsuit.
• A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. 
• A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit.
• The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit. 
• An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. 

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THE BENEFITS OF SERVING AS A LEAD PLAINTIFF IN THE WEBTOON CLASS ACTION LAWSUIT

1. Negotiating more competitive attorney fees and reducing litigation costs.
2. Managing the litigation by overseeing the progress of the case and reviewing important filings.
3. Participating in mediation and settlement discussions.
4. Having a voice in decision-making processes regarding the settlement.
5. No financial risk, as lead counsel covers all costs and expenses and are paid only if they secure a  settlement or judgment recovery for the class
6. Potentially enjoying long-term benefits from governance reform resulting from the litigation.

THE RESPONSIBILITIES THE LEAD PLAINTIFF WILL HAVE IN THE WEBTOON CLASS ACTION LAWSUIT

1. Selecting, monitoring, and overseeing Lead Counsel.
2. Reviewing and commenting on court filings on behalf of the class.
3. Discussing litigation strategies with the Lead Counsel.
4. Attending depositions (if necessary) and giving a deposition.
5. Attending hearings (if necessary).
6. Participating in mediation and the trial (if necessary).
7. Provide input on any decision concerning the settlement of the securities class action.

ELIGIBILITY CRITERIA FOR LEAD PLAINTIFF APPOINTMENT IN THE WEBTOON CLASS ACTION LAWSUIT

To be eligible for appointment as the lead plaintiff in the WEBTOON class action lawsuit, an investor must meet the following criteria:

1. Securities Acquisition: The investor must have purchased or acquired WEBTOON common stock pursuant and/or traceable to WEBTOON’s registration statement issued in connection with WEBTOON’s June 27, 2024 IPO.
2. Financial Losses: The investor must have suffered financial losses as a direct result of the alleged securities fraud perpetrated by WEBTOON and its executives.
3. Typicality and Adequacy: The investor's legal claims must be typical of those asserted on behalf of the class, and they must demonstrate their ability to adequately represent the interests of the entire class through experience, resources, and the absence of conflicts of interest.

It is crucial to note that both domestic and international investors who meet these criteria are eligible to seek appointment as the lead plaintiff in the WEBTOON class action lawsuit, as courts have consistently recognized the rights of non-U.S. investors in securities class actions.

LEGAL REQUIREMENTS FOR PREVAILING IN THE WEBTOON CLASS ACTION LAWSUIT

1. Material Misrepresentation or Omission
2. Scienter
3. Connection to Securities Transaction
4. Reliance
5. Economic Loss
6. Loss Causation

STAGES OF THE CLASS ACTION AGAINST Agenus

1. Consolidation and Lead Plaintiff Appointment
2. Filing of Consolidated Complaint
3. Motion to Dismiss
4. Class Certification
5. Discovery
6. Settlement Negotiations and Mediation
7. Summary Judgment Motions
8. Trial
9. Appeals

CONTINGENCY FEE ARRANGEMENTS AND COST CONSIDERATIONS

If you suffered losses in WEBTOON stock, call Timothy L. Miles today for a free case evaluation

• Many securities litigation attorneys, including Timothy L. Miles, operate on a contingency fee basis, which means clients do not pay any upfront fees or costs. Instead, the attorney's fees and expenses are deducted from any settlement or judgment recovered on behalf of the class, typically as a court-approved percentage of the total recovery.

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This arrangement ensures that investors can pursue their legal rights without bearing the financial burden of costly litigation, as the attorneys assume the risk and only receive compensation if they achieve a successful outcome for the class.

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FREQUENTLY ASKED QUESTIONS

Can I serve as a lead plaintiff in the class action against WEBTOON if I purchases shares outside of the class period?

​​No.  Even if you suffered losses in WEBTOON​​​ stock, if you purchased securities outside of the Class period, you will not be able to participate in the WEBTOON class action lawsuit.

Can I serve as a lead plaintiff in the class action against WEBTOON if I am serving as lead plaintiff in another securities fraud case?

​​​​​Yes, unless you have been a lead plaintiff in more than five securities class actions during any three-year period which is expressly prohibited by the securities laws. Otherwise, if you suffered losses in WEBTOON stock, you may move to be appointed lead plaintiff in the WEBTOON class action lawsuit.

Can the court appoint more than one lead plaintiff in the WEBTOON lawsuit?

​​​​Yes, at its discretion the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs in the WEBTOON class action lawsuit

How do I know if I am a member of the class in the class action against WEBTOON?

​​​If you purchased shares during the class period and suffered losses in WEBTOON stock, then you are most likely a member of the class in the WEBTOON class action ​lawsuit and may participate in the WEBTOON class action ​lawsuit since you suffered losses in WEBTOON stock.

Can I serve as lead plaintiff in the WEBTOON class action lawsuit if I sold my shares?

​​Yes. There is no requirement for you to retain ownership of the stock after the class period has expired to participate in the WEBTOON class action ​lawsuit.

Resources for Investors in the WEBTOON Class Action Lawsuit and Others

• Seeking Alpha​
• A Wealth of Common Sense
• Better Investing
• U. S. Securities & Exchange Commission
• Investor.gov
• Yahoo Finance
• Investopedia
• SEC (Resources for Investors)
• Investor Resources Inc.​
• Vanguard
• Investor's Resource: Home​​

CONTACT WEBTOON STOCK LOSS LAWYER TODAY TIMOTHY L MILES TODAY ABOUT A WEBTOONCLASS ACTION LAWSUIT

​If you suffered losses in WEBTOON stock, contact WEBTOON stock loss lawyer Timothy L. Miles today for a free case evaluation about a WEBTOON class action lawsuit. Call today and see what an WEBTOON stock loss lawyer could do for you if you suffered losses in WEBTOON ​stock. ​This will most likely be the only call you need to make. (855) 846–6529 or [email protected]. ​

WEBTOON CLASS ACTION LAWSUIT
WEBTOON STOCK LOSS LAWYER
TIMOTHY L. MILES
300 CENTERVIEW DR, UNIT 247
BRENTWOOD, TN 27027
​855-846-6528

FREE CASE EVALUATION:
WEBTOON CLASS ACTION LAWSUIT
If you suffered losses in WEBTOON stock, call WEBTOON stock loss lawyer Timothy L. Miles today for a
free case evaluation about an WEBTOON class action lawsuit. 
​855-846-6528​