Company: Funko, Inc.
Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against Funko, Inc. (NASDAQ: FNKO) (“Funko” or the “Company”) on behalf of investors who purchased the Company’s common stock on or after November 1, 2017.
On or around November 1, 2017, Funko completed an initial public offering (“IPO”) of its stock, selling over 10 million shares of common stock to investors at $12.00 per share. According to the Complaint, the defendants failed to disclose, in connection with the IPO, that: (i) Funko’s profits and growth were not as positive as Funko represented; (ii) Funko’s business model and customer base had not insulated it from adverse industry, sales, and earnings trends; and (iii) as a result, defendants’ statements regarding Funko’s business, operations and prospects were materially false and/or misleading. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased Funko’s common stock and suffered an investment loss are encouraged to contact Kaskela Law at (888) 715 – 1740, or by completing the information form on this page, to receive additional information about this action and/or to discuss their legal rights and options.