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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Funko, Inc.    FNKO

FUNKO, INC.

(FNKO)
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FUNKO ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Funko, Inc. and Encourages Investors to Contact the Firm

03/11/2020 | 02:05pm EST

Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of investors that purchased Funko, Inc. (NASDAQ: FNKO) securities between October 31, 2019 and March 5, 2020 (the “Class Period”). Investors have until May 11, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

On February 5, 2020, Funko issued a press release announcing preliminary fourth quarter 2019 financial results. Therein, Funko stated that “[n]et sales are expected to be approximately $214 million, a decrease of 8% compared to $233 million in the fourth quarter of 2018.” The Company also disclosed a $16.8 million write down to “dispose of slower moving inventory to increase operational capacity.”

On this news, Funko’s share price fell $6.20, or 40%, to close at $9.29 per share on February 6, 2020.

On March 5, 2020, after the market closed, Funko issued a press release announcing its fourth quarter and full year 2019 financial results. Therein, Funko affirmed that net sales for fourth quarter had decreased 4% year-over-year 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 $0.32, or over 4%, to close at $6.92 on March 6, 2020.

The complaint, filed on March 11, 2020, 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, 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 purchased Funko securities during the Class Period, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.


© Business Wire 2020
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Financials (USD)
Sales 2020 619 M - -
Net income 2020 0,25 M - -
Net Debt 2020 199 M - -
P/E ratio 2020 -7 012x
Yield 2020 -
Capitalization 417 M 417 M -
EV / Sales 2020 1,00x
EV / Sales 2021 0,87x
Nbr of Employees 704
Free-Float 37,8%
Chart FUNKO, INC.
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Technical analysis trends FUNKO, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 9
Average target price 8,90 $
Last Close Price 11,71 $
Spread / Highest target 19,6%
Spread / Average Target -24,0%
Spread / Lowest Target -65,8%
EPS Revisions
Managers and Directors
NameTitle
Brian Mariotti Chief Executive Officer & Director
Andrew Perlmutter President
Kenneth R. Brotman Chairman
Joe Sansone Chief Global Operations Officer
Jennifer Fall Jung Chief Financial Officer
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