Funko's forward-looking statements fell under a "safe harbor" provision and were therefore not actionable as securities fraud, a Seattle federal judge said. The decision was a win for a team from Latham & Watkins.
May 21, 2024 at 06:58 PM
3 minute read
Funko, a company best known for producing limited vinyl pop culture figurines called Funko POPS, secured a motion to dismiss a lawsuit accusing it of securities fraud.
“We believe this decision provides a useful roadmap for future defendants facing federal securities claims, particularly in the Western District of Washington,” said counsel for Funko and Latham & Watkins partner Kevin McDonough.
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Funko POP! toys for sale. Credit: Lutsenko Oleksandr/Adobe Stock
