Bobblehead Maker Funko Sued Over Insider Trading Allegations

A Funko Inc. shareholder sued it in Delaware, seeking internal files to probe claims that the toymaker’s board falsely hyped its prospects while its chief executive and financial backers at ACON Investments LLC sold more than $100 million worth of stock at inflated prices.

There’s “more than a credible basis to believe” the board offered “misleading statements about Funko’s capabilities, inventory, and finances” while some of its members, along with ACON and CEO Brian Mariotti, made insider sales “after the company raised its near-term guidance and before it announced disappointing financial” results, the complaint says.

The partly redacted lawsuit, made ...