Funko Inc. allegedly failed to tell investors about lower-than-expected sales, according to a would-be class action filed Thursday in Washington federal district court.
The pop culture consumer products company told investors in 2019 that it expected net sales for the year to hit $840 million to $850 million, but didn’t disclose when holiday sales were lower than expected, the complaint filed in the U.S. District Court for the Western District of Washington said.
The sales issues, which Funko said it expected to continue during early 2020, led the company to take a $16.8 million write-down to allow for the ...
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