LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Funko, Inc. (“Funko” or the “Company”) (NASDAQ: FNKO) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On November 3, 2022, after the market closed, Funko released its third quarter 2022 financial results. The Company announced earnings per diluted share of $0.28 per share, more than 42% below street estimates $0.49 per share. The Company also lowered its fiscal year 2022 guidance.
On this news, Funko’s stock price fell $11.58 per share, or 59.4%, to close at $7.92 per share on November 4, 2022, thereby injuring investors.
Then, on March 1, 2023, after the market closed, Funko announced its fiscal year 2022 results, and guidance for 2023. The Company disclosed a loss of $5.2 million, and that its adjusted EBITDA margin decreased to 7.4%.
On this news, Funko’s stock price fell $0.76 per share, or 7.1%, to close at $9.94 per share on March 2, 2023, thereby injuring investors further.
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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.
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