MILWAUKEE, Feb. 7, 2020 /PRNewswire/ -- Ademi & O'Reilly, LLP is investigating possible securities fraud claims against Funko, Inc. (NASDAQ: FNKO) resulting from inaccurate statements Funko made regarding its internal controls, business practices, financial statements and prospects.
Click here to learn more about the investigation: http://ademilaw.com/case/funko-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
The investigation focuses on whether Funko issued false and misleading statements regarding its business practices and prospects. Specifically, Funko expects fourth-quarter sales of $214 million, down from $233 million last year and significantly lower than the consensus of $231 million. Funko said a "challenging retail environment" and weak sales related to some major movie releases were to blame. The company will also incur a one-time $16.8 million charge to write-down disposal of slow-moving inventory. Funko expects 2020 sales growth in the high-single digit to low-double digit range, though the first half is expected to be flat to down in the low-single digit range compared to 2019.
If you wish to obtain additional information or have information about this investigation of Funko, please contact Guri Ademi either at email@example.com or toll-free: 866-264-3995, http://ademilaw.com/case/funko-inc.
We specialize in securities fraud and shareholder litigation. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE Ademi & O'Reilly, LLP