FNKO SHAREHOLDER ALERT: Jakubowitz Law Reminds Funko Shareholders of a Lead Plaintiff Deadline of August 1, 2023
NEW YORK, June 28, 2023 (GLOBE NEWSWIRE) — Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Funko, Inc. (NASDAQ: FNKO).
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The lawsuit seeks to recover losses for shareholders who purchased Funko between May 6, 2022 and March 1, 2023.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until August 1, 2023 to petition the court. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
According to a filed complaint, Funko, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) Funko was experiencing significantly larger delays in implementing its enterprise resource planning (“ERP”) software than it was disclosing to investors; (ii) having moved into a new warehouse without functioning ERP software in place would lead to dramatically higher costs and poorer inventory management practices; and (iii) Funko’s inability to efficiently operate the new distribution center would have a substantial, undisclosed impact on Funko’s earnings before interest, taxes, depreciation, and amortization (“EBITDA”) margin.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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