HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Funko, Inc. (FNKO) Investors with Losses to Contact its Attorneys: Securities Fraud Class Action Filed

Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites.
Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. For avoidance of any doubts and to make it easier, you may consider any links to external websites as sponsored links. Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

SAN FRANCISCO, March 18, 2020 — Hagens Berman urges investors in Funko, Inc. (NASDAQ: FNKO) who have suffered significant losses to submit their losses now.  A securities fraud class action has been filed against the Company and certain investors may have valuable claims.

Class Period: Oct. 31, 2019 – Mar. 5, 2020 Lead Plaintiff Deadline: May 11, 2020 Sign Up: www.hbsslaw.com/investor-fraud/FNKO
Contact An Attorney Now: [email protected]
  844-916-0895

Funko, Inc. (FNKO) Securities Class Action:

The complaint alleges that Defendants misrepresented and failed to disclose material facts regarding Funko’s business, operations and prospects.  According to the complaint, while promoting the demand for Funko’s products and representing that it properly accounted for inventory, Defendants concealed that (1) Funko was experiencing lower than expected sales, and (2) as a result, Funko was reasonably likely to incur a writedown for slower moving inventory.

The market began to learn the truth on Feb. 5, 2020 when, after the market closed, Funko announced disappointing preliminary Q4 2019 results, including net sales of $214 million, an 8% year-over-year decrease.  Management blamed these poor results in part on a $16.8 million charge to write down slow-moving inventory.  On this news, Funko’s share price fell $6.20, or 40%.

Then, on Mar. 5, 2020, the Company issued a press release announcing its Q4 2019 and full year 2019 financial results. Therein, Funko affirmed that net sales for fourth quarter had decreased to $213.6 million due to, among other things, “softness at retail during the holiday season which led to a decrease in orders.”  On this news, Funko’s share price fell another $0.32, or nearly 5%.

“We’re focused on investors’ losses and proving that Funko misstated demand and inflated the value of its inventory,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you purchased shares of Funko and suffered significant losses, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Funko should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

 

HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Funko, Inc. (FNKO) Investors with Losses to Contact its Attorneys: Securities Fraud Class Action Filed 1

Primary Logo