An investigation on behalf of current long term investors in Funko, Inc. (NASDAQ:FNKO) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 10/05/2023 -- An investigation on behalf of current long-term investors in shares of Funko, Inc. (NASDAQ: FNKO) concerning potential breaches of fiduciary duties by certain directors and officers of Funko, Inc. was announced.
Investors who are current long term investors in Funko, Inc. (NASDAQ: FNKO) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ: FNKO stocks follows a lawsuit filed against Funko, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: FNKO stocks, concerns whether certain Funko, Inc. officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Western District of Washington the plaintiff alleges that the Defendants misrepresented to investors facts concerning the move of Funko's distribution center from Everett, Washington to Buckeye, Arizona as well as the planned upgrade of the Company's enterprise resource planning (ERP) software system and that Defendants repeatedly spoke of the necessity for these upgrades to serve current and future business needs, but failed to disclose that Funko was experiencing significantly larger delays in implementing its ERP software than it was disclosing to investors, that having moved into a new warehouse without functioning ERP software in place would lead to dramatically higher costs and poorer inventory management practices, and that Funko's inability to efficiently operate the new distribution center would have a substantial, undisclosed impact on the Company's EBITDA margin.
Those who purchased shares of Funko, Inc. (NASDAQ: FNKO) have certain options and should contact the Shareholders Foundation.
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