Did You Acquire Funko (FNKO) Before October 31, 2019? Johnson Fistel Continues its Investigation of Funko; Should Management be Held Accountable for Investors Losses?

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Sep 18, 2020, 18:32 ET

SAN DIEGO, Sept. 18, 2020 /PRNewswire/ -- Johnson Fistel, LLP is investigating potential claims on behalf of Funko, Inc. ("Funko") (NASDAQ: FNKO) against certain of its officers and directors.

Specifically, a class action lawsuit was filed in federal court this year against the Company on behalf of purchasers of the securities of Funko from October 31, 2019 and March 5, 2020 (the "Class Period"). According to the lawsuit, throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Funko was experiencing lower than expected sales; (2) that, as a result, Funko was reasonably likely to incur a write-down for slower moving inventory; and (3) that, 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.

If you are a long-term shareholder of Funko continuously holding shares before October 31, 2019, you may have standing to hold Funko harmless from the alleged harm caused by the officers and directors of the Company by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.

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If you are interested in learning more about your legal rights and remedies, please contact Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.

Additionally, if you have held Intersect stock since before February 9, 2017, you can [Click here to join this action]. There is no cost or obligation to you.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

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SOURCE Johnson Fistel, LLP