SAN DIEGO, CA / ACCESSWIRE / February 21, 2018 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in Funko Inc. (FNKO) shares.
Funko Inc. went public in early November 2017, and its shares reached as high as $8.71 per share in early December 2017.Since then, Funko Inc. has faced media scrutiny concerning what one outlet referred to as "fun-house accounting."
According to the complaint, the plaintiff alleges that the defendants violated Federal Securities Laws by Funko Inc. in connection with the Company's initial public offering ("IPO"), held on or about November 3, 2017. More specifically, the plaintiff claims that the defendants violated Sections 11, 12, and 15 of the Securities Act of 1933, as amended, by making allegedly materially misleading statements and by omitting material facts necessary to make the statements made therein not misleading. The plaintiff alleges that certain documents filed in connection with the IPO contained materially false and/or misleading statements and/or failed to disclose that Funko's earnings growth trends were not as strong as suggested, that Funko's EBITDA growth trend was not representative of its prospects, and that consequently, Funko's Registration Statement and Prospectus for the IPO were materially misleading at all relevant times.
Those who purchased Funko Inc. (FNKO) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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SOURCE: Shareholders Foundation, Inc.