Vice Chancellor Rules Funko Must Face Suit In Delaware (Law360)

Covered by Law360

The Delaware Chancery Court in a transcript ruling declined to dismiss a class action suit against pop culture consumer products company Funko, Inc. (FNKO) because shareholders adequately alleged the company’s board of directors breached its fiduciary duties by “trapping” $74 million of excess cash instead of distributing it to common shareholders.

By MoKa

Morris Kandinov LLP serves as co-counsel for plaintiff with Robbins Geller Rudman & Dowd LLP and Friedlander & Gorris PA.

Contact Leo Kandinov for more information.