STEVENSON, Md., July 10, 2018 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Western District of Washington on behalf of a class who purchased Funko, Inc. (Nasdaq: FNKO ) (“Funko” or the “Company”) common stock pursuant to and/or traceable to the Registration Statement and Prospectus issued in connection with Funko’s Initial Public Offering (“IPO”) on or about November 1, 2017. Investors who wish to become proactively involved in the litigation have until August 27, 2018 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Funko’s November 1, 2017 IPO. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.
The complaint accuses the defendants of violations of the Securities Act of 1933 by virtue of the defendants’ failure to disclose in connection with the Company’s IPO that Funko’s profits and growth were not as positive as it represented and that Funko’s business model and customer base had not insulated it from adverse industry, sales, and earnings trends.
According to the complaint, following a November 2, 2017 report and a November 3, 2017 report of risks associated with Funko’s financial results and misleading accounting practices, and a December 19, 2017 downgrade of the Company’s stock, the value of Funko shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in Funko’s November 1, 2017 IPO and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please contact Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616 hoffman@browerpiven.com
