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

FUNKO, INC.

(FNKO)
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The Law Offices of Frank R. Cruz : Announces the Filing of a Securities Class Action on Behalf of Funko Inc. Investors (FNKO)

05/01/2020 | 05:39pm EST

The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Funko, Inc. (“Funko” or the “Company”) (NASDAQ: FNKO) securities between October 31, 2019 and March 5, 2020, inclusive (the “Class Period”). Funko investors have until May 11, 2020 to file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click here to participate.

On February 5, 2020, after the market closed, 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.”

On this news, the Company’s share price fell $6.20, or over 40%, to close at $9.29 per share on February 6, 2020, thereby injuring investors.

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, thereby injuring investors further.

The complaint filed in this class action 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 writedown 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.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

If you purchased Funko securities during the Class Period, you may move the Court no later than May 11, 2020 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased Funko securities, have information or 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


© Business Wire 2020
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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%
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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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