WOLF HALDENSTEIN: Funko, Inc. Investor ALERT - Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action has been filed against Funko, Inc. in the United States District Court for the Western District of Washington

NEW YORK, May 08, 2018 -- Wolf Haldenstein Adler Freeman & Herz LLP  announces that a federal securities class action lawsuit has been filed in the United States District Court for the Western District of Washington on behalf of persons and entities that acquired the common stock of Funko, Inc. (NasdaqGS:FNKO) pursuant and/or traceable to the Company’s registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s November 1, 2017 initial public offering (“IPO” or the “Offering”).

Investors who have incurred losses in shares  of  Funko, Inc may contact the firm at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the firm on our website, www.whafh.com.

Funko is a pop culture consumer products company that sells a broad range of pop culture consumer products, featuring characters from a range of media and entertainment content, including movies, TV shows, video games, music and sports. Its products combine its proprietary brands and designs into properties it licenses from content providers.

The filed lawsuit claims that the Company’s Registration Statement and Prospectus issued in connection with the IPO were materially misleading by failing to disclose known trends in the Company’s sales and inventory.

On November 2, 2017, Bloomberg news service reported:  “In Funko’s IPO prospectus, in a chart with a big arrow pointing up, the company says that an important measure of its income, which it uses to determine the success of its operational strategies, rose by an average of 86 percent in its past two full years.  The actual bottom line, though, was up an average of just 16 percent in 2015 and 2016 and has turned negative lately.  Funko lost just more than $10 million in the first half of this year.  How the toymaker gets a loss of $10 million to reflect back as an 86 percent earnings increase is the latest example of fun-house accounting on Wall Street.”

This news drove the price of Funko shares down $4.93, or 41% below the IPO price, to close at $7.07. The IPO had been priced at $12.00 per share by underwriters just the prior day!

Wolf Haldenstein Adler Freeman & Herz LLP  has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com.

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Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774
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