Court grants preliminary approval of Funko derivative lawsuit settlement; hearing set for Nov 15, 2024

Funko, Inc.

U.S. District Court for Central District of California issued order on July 26, 2024 granting preliminary approval of derivative settlement.
Settlement requires Funko to adopt corporate governance measures to be maintained for at least 4 years.
Plaintiffs' counsel may seek up to $2.15 million in attorneys' fees and expenses, subject to court approval.
The derivative lawsuits alleged breach of fiduciary duties related to false statements about sales and inventory, and insider trading; defendants deny all allegations.
Final approval hearing scheduled for November 15, 2024; stockholders may object by October 17, 2024.

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