Civil Plaintiff
Funko Inc. Agrees to Pay $7M to Resolve Class Action Lawsuit
Funko Inc. agreed to pay $7 million as part of a settlement made to resolve claims the company misled its investors about its inventory and sales projections.
Shareholders argued that Funko misled its investors by saying it accumulated a large amount of inventory that was actually obsolete, Law360 reports.
The shareholders claimed further that executives for Funko sold off their shares at an inflated price prior to the company announcing an inventory write-down due to underperforming sales.
