The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Funko, Inc. (NASDAQ: FNKO) who purchased common stock between May 6, 2022 and March 1, 2023. The action, which was filed in the United States District Court for the Western District of Washington, alleges that the Company violated federal securities laws.
In particular, the Funko lawsuit alleges 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.
Shareholders have until August 1, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
To learn more and keep informed, complete this form >