NEW YORK, March 11, 2020 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Funko, Inc. (“Funko” or the “Company”) (FNKO) in the United States District Court for the Central District of California on behalf of those who purchased or acquired the securities of Funko between October 31, 2019 and March 5, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Funko investors under the federal securities laws.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company was experiencing lower than expected sales; (ii) as a result, the Company was reasonably likely to incur a write-down for slower moving inventory; and (iii) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares of Funko during the Class Period should contact the Firm prior to the May 11, 2020 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at email@example.com or firstname.lastname@example.org.
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