WEBTOON SHAREHOLDER ALERT: Kaskela Law Firm Announces Investigation of WEBTOON Entertainment Inc. and Encourages Long-Term Shareholders to Contact the Firm – WBTN
PHILADELPHIA, Feb. 24, 2026 (GLOBE NEWSWIRE) -- Shareholder protection firm Kaskela Law announces that it is investigating potential breach of fiduciary duty claims concerning WEBTOON Entertainment Inc. (NASDAQ: WBTN) on behalf of the company’s long-term shareholders.
Click here to request additional information: https://kaskelalaw.com/case/webtoon/
Recently a securities fraud complaint was filed against WEBTOON on behalf of certain investors who purchased shares of the company’s stock prior to August 9, 2024.
On or around June 28 2024, WEBTOON completed its initial public offering (“IPO”) of common stock, selling 15 million shares of stock to investors at a price of $21.00 per share, for proceeds of approximately $315 million.
According to the complaint, on August 8, 2024, WEBTOON reported disappointing quarterly financial and operational results for the reporting quarter ended June 30, 2024 – the quarter that closed just one business day after the IPO. Among other things, that quarterly report disclosed “bleak revenue growth and substantial declines” in Monthly Active Users (“MAUs”) for the relevant quarter. Following this quarterly report, shares of WEBTOON’s stock fell $7.88 per share, or over 38% in value, to close on August 9, 2024 at $12.75 per share, on unusually heavy trading volume.
The investigation seeks to determine whether the members of WEBTOON’s board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct.
WEBTOON shareholders who have owned their WBTN shares since at least August 8, 2024 are encouraged to click here to fill out our online form, or contact lead investigative attorney Adrienne Bell, Esq. at (484) 229 – 0750 or by email at abell@kaskelalaw.com. You can also click on the following link or paste it into your browser to learn more about the investigation and your legal rights and options:
https://kaskelalaw.com/case/webtoon/
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent (no recovery, no cost) basis. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com, or contact us today at (888) 715 – 1740.
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com
This notice may constitute attorney advertising in certain jurisdictions.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
