Funko Inc (NASDAQ:FNKO) Investor Investigation Concerning Possible Violations Of Securities Laws Announced

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Company Name(s): 
Funko
Affected Securities: 
NASDAQ: FNKO

An investigation on behalf of investors of Funko Inc (NASDAQ:FNKO) shares over potential securities laws violations by Funko Inc (NASDAQ:FNKO and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Funko Inc (NASDAQ:FNKO) concerning whether a series of statements by Funko Inc (NASDAQ:FNKO regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Everett, WA based Funko, Inc. is a pop culture consumer products company. Funko Inc reported that its annual Total Revenue rose from $274.06 million in 2015 to $426.72 million in 2016 and that its Net Income increased from $11.94 million in 2015 to $26.88 million in 2016.

Funko Inc went public in early November 2017 and its shares reached as high as $8.71 per share in early December 2017.

Since then Funko Inc has faced media scrutiny concerning what one outlet referred to as “fun-house accounting.”

Shares of Funko Inc (NASDAQ:FNKO) declined to $7.23 per share on December 15, 2017.