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

FUNKO, INC.

(FNKO)
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Shareholder Alert: Robbins LLP Announces Funko, Inc. (FNKO) Sued for Misleading Shareholders

04/09/2020 | 01:40pm EST

Shareholder rights law firm Robbins LLP announces that a purchaser of Funko, Inc. (NASDAQ: FNKO) filed a class action complaint against the Company for alleged violations of the Securities Exchange Act of 1934 between October 31, 2019 and March 5, 2020. Funko designs, sources, and distributes licensed pop culture products in the United States and internationally.

If you suffered a loss as a result of Funko's misconduct, click here.

Funko, Inc. (FNKO) Accused of Misleading Shareholders

According to the complaint, on October 31, 2019, Funko touted an increase in net sales in its third quarter 2019 financial results and reiterated its fiscal 2019 financial outlook, stating "the Company expects net sales to be in the range of $840 million to $850 million" for full year 2019. Despite Funko's auspicious expectations, on February 5, 2020, Funko revealed in its preliminary fourth quarter 2019 financial results that its net sales were expected to decrease by 8% and that the Company would incur a $16.8 million writedown to "dispose of slower moving inventory." On this news Funko's stock price fell $6.20 per share, or 40%, to close at $9.29 per share. One month later, Funko affirmed a decrease of 4% year-over-year in net sales for its fourth quarter 2019 financial results citing "softness at retail during the holiday season which led to a decrease in orders." On this news, Funko's stock price fell over 4% to close at $6.92 per share.

Funko, Inc. (FNKO) Shareholders Have Legal Options

Contact us to learn more:
Leo Kandinov
(800) 350-6003
lkandinov@robbinsllp.com
Shareholder Information Form

Robbins LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Click here to receive free alerts from Stock Watch when companies engage in wrongdoing.

Attorney Advertising. Past results do not guarantee a similar outcome.


© Business Wire 2020
All news about FUNKO, INC.
01/12FUNKO : Awards ChizComm Beacon Media Multi-Platform Media for New Toy Line
PR
01/06FUNKO : Rings in New Year with Inaugural Funko Fair
BU
2020Piper Sandler Upgrades Funko to Overweight From Neutral; Price Target is $12
MT
2020BMO Capital Downgrades Funko to Underperform From Market Perform, Adjusts Pri..
MT
2020FUNKO : Investor Presentation
PU
2020FUNKO INVESTIGATION INITIATED BY FOR : Kahn Swick & Foti, LLC Investigates the O..
BU
2020FUNKO : 3Q Earnings Snapshot
AQ
2020FUNKO : Management's Discussion and Analysis of Financial Condition and Results ..
AQ
2020Earnings Flash (FNKO) FUNKO Posts Q3 EPS $0.31
MT
2020FUNKO, INC. : Results of Operations and Financial Condition (form 8-K)
AQ
More news
Financials (USD)
Sales 2020 619 M - -
Net income 2020 0,23 M - -
Net Debt 2020 199 M - -
P/E ratio 2020 -7 605x
Yield 2020 -
Capitalization 452 M 452 M -
EV / Sales 2020 1,05x
EV / Sales 2021 0,91x
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 8,07 $
Last Close Price 12,70 $
Spread / Highest target 2,36%
Spread / Average Target -36,5%
Spread / Lowest Target -68,5%
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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