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u/11thestate 1 day ago News

Webtoon Entertainment ($WBTN) Agreed to Settle $10.05M With Investors over Revenue Growth Claims

Hey guys, if you missed it, Webtoon just agreed to settle $10.05M with investors over claims that it misled the market about its revenue growth and financial health. The agreement has already been submitted to the court for final approval. In a nutshell, Webtoon was accused of overstating its growth prospects and failing to fully disclose declining revenue and foreign currency risks. On August 8, 2024, the company reported just 0.1% revenue growth, declines in advertising and IP adaptation revenue, and a $76.6M net loss. $WBTN fell 38.2% the next day. The company has now agreed to settle $10.05M with investors. If you bought $WBTN  in 2024, you may be eligible to participate - check your eligibility and file a claim here Anyone here invested in $WBTN at the time? How much were your losses?
1 comments held Reddit says 0 on reddit ↗
  1. u/ExplanationNormal339 1 1 day ago
    Took another look at $WBTN after today. The reaction to guidance often tells you more than the number itself.