NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Funko, Inc. (NASDAQ: FNKO) on behalf of Funko stockholders. Our investigation concerns whether Funko has violated the federal securities laws and/or engaged in other unlawful business practices.
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On February 5, 2020, Funko reported preliminary financial results for the fourth quarter ended December 31, 2019. According to the report, net sales are expected to be approximately $214 million, a decrease of 8% compared to $233 million in the fourth quarter of 2018. Sales also fell well below average analyst estimates of $264.29 million. On a third-quarter conference call, the Company CFO, Jennifer Jung, stated, “we are maintaining our guidance ranges, we laid out on the second quarter conference call.”
On this news, the price of Funko’s stock price decreased over 38%, close at $9.29 on February 6, 2020.
If you purchased or otherwise acquired Funko shares and suffered a loss, have information, 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 Marion Passmore or Melissa Fortunato by email at email@example.com, or telephone at (646) 860-9156, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.