Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Bragar Eagel & Squire, P.C. reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Western District of Washington on behalf of all persons or entities who purchased or otherwise acquired Funko, Inc. (NASDAQ:FNKO) shares pursuant and/or traceable to Funko's Initial Public Offering ("IPO") on or about November 1, 2017. Investors have until June 4, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
The complaint alleges that Defendants omitted to state: (1) that Funko's profits and growth were not as positive as the Company represented; and (2) that, as a result of the foregoing, Defendants' statements in the Registration Statement regarding Funko's business, operations, and prospects, were materially false and/or misleading.
According to the complaint, the Funko "IPO saw the worst first-day return for a Wall Street IPO in 17 years, causing shares to drop a staggering 41% from their initial price of $12 to close at $7.07." Bloomberg reported that experts suspect that the flop was due to Funko's accounting practices, noting that the company lost more than $10 million in the first half of 2017. The report also noted that despite Funko's assertion that an important measure of its income rose by 86% in its past two full years, the company's bottom line was up an average of just 16% in 2015 and 2016 and had recently turned negative.
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
If you purchased or otherwise acquired Funko shares traceable to the IPO and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Funko, Inc. lawsuit, please go to http://www.bespc.com/fnko. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180530006503/en/
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.