NEW YORK, May 6, 2020 /PRNewswire/ -- Moore Kuehn, PLLC, a securities law firm located on Wall Street, is investigating potential claims involving directors and officers regarding possible breaches of fiduciary duties related to whether insiders caused their companies to make false and/or misleading statements and/or failed to disclose, among other things, that:
- World Wrestling Entertainment, Inc. (NYSE: WWE)
(1) WWE was experiencing rising tension with the Saudi government and a breakdown in negotiations over a renewed broadcasting distribution deal; (2) the Saudi government had failed to make millions of dollars in payments owed to WWE pursuant to existing contractual commitments; (3) OSN had terminated the broadcast of WWE programming in the first quarter of 2019 and that this cancellation was symptomatic of a deterioration in the business relationship; and (4) WWE did not have the ability to expand its operations in the Middle East or within Saudi Arabia as had been represented to investors.
- Hallmark Financial Services, Inc. (NASDAQ: HALL)
(1) that the Company lacked effective internal controls over accounting and financial reporting related to reserves for unpaid losses; (2) that the Company improperly accounted for reserve for unpaid losses and loss adjustment expenses related to its Binding Primary Commercial Auto business; (3) that, as a result, Hallmark Financial would be forced to report a $63.8 million loss development for prior underwriting years; and (4) that, as a result, Hallmark Financial would exit from its Binding Primary Commercial Auto business.
- Funko, Inc. (NASDAQ: FNKO)
(1) Funko was experiencing lower than expected sales; (2) as a result, Funko was reasonably likely to incur a write down for slower moving inventory; and (3) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
If you own WWE, HALL, or FNKO please contact Fletcher Moore, Esq. by email at [email protected] or telephone at (212) 709-8245. There is no cost or obligation to you. Moore Kuehn is a New York-based law firm with attorneys representing investors and consumers in class action litigation involving securities law violations, financial fraud, breaches of fiduciary duties, and other claims. For additional information about Moore Kuehn, please go to http://www.moorekuehn.com/practice/new-york-shareholder-derivative-litigation/
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Moore Kuehn, PLLC
Fletcher Moore, Esq.
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