WEBTOON Securities Settlement: $10.05 Million for IPO Investors

Receiving the notice does not itself mean you qualify or will be paid. The Claims Administrator does not have your transaction information.

• You must have bought or otherwise acquired WEBTOON common stock pursuant or traceable to the registration statement for the June 27, 2024 IPO.
• You must have been damaged by those purchases, submit a timely valid claim, and not be excluded from the class.
• The notice excludes the defendants, relevant-time Company officers and directors, certain family members and related parties, and entities controlled by defendants. An Investment Vehicle is not excluded merely because of that rule.

A claim is required even if you are a class member. The notice does not specify the full list of claim documents; consult the Claim Form for those requirements.

• Complete a Claim Form and include adequate supporting documentation.
• Submit it online or mail it. Mailed forms must be postmarked, and online forms submitted, no later than December 14, 2026.
• Keep your WEBTOON ownership and transaction records. The notice says the specific documents required are set out in the Claim Form.

This is a formula for dividing the available fund among valid claims, not a promise of a particular payment or a calculation of your actual damages.

• The Plan covers eligible common-stock purchases or acquisitions in the IPO or on the open market through September 5, 2024.
• The recognized-loss formula depends on when shares were sold, if at all. It caps the purchase price used in the formula at $21 per share and uses $12.27 per share in specified later-sale and retained-share calculations.
• Options themselves are not eligible securities. Shares bought or sold by exercising an option are treated as bought or sold on the exercise date at the exercise price.

The final payment amount cannot yet be determined. It will depend on the net fund after approved deductions and on the recognized claims submitted by all approved claimants.

• The Net Settlement Fund is divided proportionately according to each approved claimant’s Recognized Claim.
• No payment will be made if the calculated distribution is less than $10.
• Payments are to be made only after claims are processed, final approval and the settlement’s Effective Date occur, and appeals are resolved.

The notice also says that people or entities otherwise excluded from the settlement cannot receive a recovery indirectly through an Employee Plan.

• Do not list shares acquired through a WEBTOON employee retirement or benefit plan on your own Claim Form.
• You may claim only qualifying IPO-related shares you acquired outside the Employee Plan.
• A plan’s trustees may submit claims for qualifying shares acquired through the plan.

If you remain in the class and the settlement is approved, you will release the covered claims even if you do not submit a claim. The notice describes those released claims broadly as claims tied to the IPO registration statement and related purchases, holdings, sales, or dispositions.

• To leave the settlement, send a signed written exclusion request so it is received by November 10, 2026.
• The request must provide contact information, state that you request exclusion in this case, and give detailed WEBTOON holdings and transaction information.
• If your exclusion is accepted, you cannot receive settlement money. Leaving is the option that may allow you to pursue or join a separate case about the released claims.