A federal lawsuit alleges that toymaker Funko overstated its growth and profits in the run up to going public last year.
Plaintiff Keith Jacobs seeks class action in the lawsuit filed last week in U.S. District Court in Seattle against Funko, the Everett, Wash., maker of the popular Pop! figurines, as well as the company’s top executives, board members and the companies that underwrote the initial public offering. Jacobs joins at least five other groups that have sued Funko in recent months, alleging the company misrepresented its financials.
The lawsuit alleges Funko produced “misleading and inaccurate” financial statements that violated the Securities Act of 1933. Jacobs seeks class-action certification for his claims, a jury trial and “compensatory damages.”
