Funko, Inc. Securities Litigation (2020)

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Lawsuit Overview

Defendant:Funko, Inc.
Date Filed:March 10th, 2020
Sector:Consumer Non-Durables
Industry:Recreational Products/Toys
Class Start Date:October 31st, 2019
Class End Date:March 5th, 2020

According to the Complaint, Funko, Inc. is a pop culture consumer products company that creates figures, plush, accessories, apparel, and homewares regarding movies, TV shows, videogames, musicians, and sports teams.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Complaint alleges 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 writedown 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.

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First Identified Complaint

Gilberto Ferreira, et al. v. Funko, Inc., et al.

Date Filed:March 10th, 2020
Class Period Start:October 31st, 2019
Class Period End:March 5th, 2020
First Identified Complaint Filings
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