BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith continues its investigation on behalf of Funko, Inc. (“Funko” or the “Company”) (NASDAQ: FNKO) investors concerning the Company and its officers’ possible violations of federal securities laws.
On November, 2 2017, Bloomberg published an article entitled “Funko Extends Playtime to Its Accounting,” stating, among other things, that “[p]rofits . . . are slowing,” “just $7 million, or 10 percent, of Funko’s $69 million increase in adjusted Ebitda . . . was from actual earnings growth,” and questioning the Company’s claim of “intellectual property worth $250 million” which the article author claimed was “odd for a company whose main products are based on others’ intellectual property.” On this news, Funko’s stock price closed at $7.07 per share, which was a decline of $4.93, or 41%, from the IPO price of $12.00 per share. On January 5, 2017, Funko’s stock price closed at $6.12, which was a decline of $5.88, or 49%, from the IPO price of $12.00 per share, thereby injuring investors.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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