Robbins Geller Rudman & Dowd LLP and Stull, Stull & Brody Announce a Notice of Pendency of Class Action and Proposed Settlement in the In re Funko, Inc. Securities Litigation

SAN DIEGO, March 11, 2025 /PRNewswire/ --

SUPERIOR COURT OF WASHINGTON IN AND FOR KING COUNTY

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, PROPOSED SETTLEMENT, AND
MOTION FOR ATTORNEYS' FEES AND EXPENSES

TO:   ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED FUNKO, INC. ("FUNKO") COMMON STOCK PURSUANT TO OR TRACEABLE TO THE REGISTRATION STATEMENT AND PROSPECTUS ISSUED IN CONNECTION WITH FUNKO'S NOVEMBER 1, 2017, INITIAL PUBLIC OFFERING ("CLASS").

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Washington Superior Court Civil Rules and an Order of the Superior Court of Washington in and for King County, that Court-appointed Class Representatives Robert Lowinger, The Ronald and Maxine Linde Foundation, and Carl Berkelhammer, on behalf of themselves and all members of the Class, and Defendants Funko, Funko Acquisition Holdings, L.L.C., Brian Mariotti, Russell Nickel, Ken Brotman, Gino Dellomo, Charles Denson, Diane Irvine, Adam Kriger, and Richard McNally (the "Individual Defendants" and with Funko and Funko Acquisition Holdings, L.L.C., the "Funko Defendants"), Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Piper Jaffray & Co., Jefferies LLC, Stifel, Nicolaus & Company, Incorporated, BMO Capital Markets Corp., and SunTrust Robinson Humphrey, Inc. (n/k/a Truist Securities, Inc.) (the "Underwriter Defendants"), Fundamental Capital, LLC and Fundamental Capital Partners, LLC (the "Fundamental Defendants"), and ACON Investments, L.L.C., ACON Funko Manager, L.L.C., ACON Funko Investors, L.L.C., ACON Funko Investors Holdings I, L.L.C., and ACON Equity GenPar, L.L.C., have reached a proposed settlement of the claims in the above-captioned class action (the "Action") in the amount of $14,750,000 (the "Settlement").

A hearing will be held before the Honorable Karen Donohue on June 6, 2025, at 9:00 a.m., in Courtroom E-863 of the King County Superior Court, 516 3rd Avenue, Seattle, WA  98104 (the "Settlement Hearing") to determine whether the Court should: (i) approve the proposed Settlement as fair, reasonable, and adequate; (ii) dismiss the Action with prejudice as provided in the Stipulation of Settlement, dated February 7, 2025; (iii) approve the proposed Plan of Allocation for distribution of the proceeds of the Settlement (the "Net Settlement Fund") to Class members; and (iv) approve Class Counsel's Fee and Expense Application.  The Court may change the date of the Settlement Hearing without providing another notice.  Any updates regarding the Settlement Hearing, including any changes to the date or time of the hearing, will be posted to the Settlement website, www.FunkoSecuritiesSettlement.com.  You do NOT need to attend the Settlement Hearing to receive a distribution from the Net Settlement Fund.

IF YOU ARE A MEMBER OF THE CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT.  If you have not yet received a full Notice and Claim Form, you may obtain copies of these documents by visiting the website for the Settlement, www.FunkoSecuritiesSettlement.com, or by contacting the Claims Administrator at:

Funko Securities Settlement
c/o A.B. Data, Ltd.
P.O. Box 173109
Milwaukee, WI  53217
www.FunkoSecuritiesSettlement.com
(877) 777-9555

Inquiries, other than requests for information about the status of a claim, may also be made to Class Counsel:

Robbins Geller Rudman & Dowd LLP
Ellen Gusikoff Stewart
655 West Broadway, Suite 1900
San Diego, CA 92101
[email protected]
(800) 449-4900

If you are a member of the Class, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or submitted online no later than July 2, 2025.  If you are a member of the Class and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable.

If you are a member of the Class and wish to exclude yourself from the Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice so that it is received no later than May 16, 2025.  If you properly exclude yourself from the Class, you will not be bound by any judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund.

Any objections to the proposed Settlement, Class Counsel's Fee and Expense Application, and/or the proposed Plan of Allocation must be filed with the Court, either by mail or in person, and be mailed to counsel for the Parties in accordance with the instructions in the Notice, such that they are received no later than May 16, 2025.

PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR
DEFENDANTS' COUNSEL REGARDING THIS NOTICE.

SOURCE Robbins Geller Rudman & Dowd LLP and Stull, Stull & Brody