LEAD PLAINTIFF DEADLINE IS AUGUST 1, 2023
NEW YORK, June 10, 2023 /PRNewswire/ — Wolf Haldenstein Adler Freeman & Herz LLP  (“Wolf  Haldenstein”) announces that a federal securities class action lawsuit has been filed in the United States District Court for the Western District of Washington against Funko, Inc. (“Funko”) (NASDAQ: FNKO) on behalf of investors who purchased shares of Funko common stock during the period from May 6, 2022 through March 1, 2023, inclusive (the “Class Period”).
All investors who purchased shares and incurred losses are  advised  to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses, you may, no later than August 1, 2023, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
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The truth began to be revealed on November 3, 2022, when, after the market closed, Funko issued a press release announcing results for the third quarter of 2022. The November 3, 2022 press release announced that Funko’s earnings per share had come in at $0.28 per share, more than 42% below street estimates of $0.49 per share, and also that management had dramatically cut Funko’s FY 2022 guidance.
In response to this news, on November 4, 2022, the price of Funko’s common stock fell $11.58 per share to $7.92 or a 59.4% drop on exceptionally heavy volume of 15.197 million shares, more than twelve times the average daily trading volume of Funko’s common stock.
The results of Funko’s rocky distribution center move and ERP implantation continued to impact the Company. On March 1, 2023, Funko issued a press release, reporting results for the fourth quarter 2022.
In response to this news, on March 2, 2023, the price of Funko’s common stock fell intra-day $3.17 per share to $7.53, a 29.6% drop.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at [email protected].
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774
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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP
