Lawsuits Filed Against FULC, Stem and FNKO – Jakubowitz Law Pursues Shareholders Claims

NEW YORK, NY / ACCESSWIRE / June 8, 2023 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.

Fulcrum Therapeutics, Inc. (NASDAQ: FULC)

CONTACT JAKUBOWITZ ABOUT FULC:
https://claimyourloss.com/securities/fulcrum-class-action-loss-submission-form/?id=40607&from=1

Class Period: March 3, 2022 - March 8, 2023

Lead Plaintiff Deadline: June 27, 2023

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the preclinical data submitted in support of FTX-6058 (an investigational oral fetal hemoglobin inducer for the treatment of sickle cell disease and other hemoglobinopathies) showed safety concerns regarding potential hematological malignancies; (ii) the foregoing safety concerns increased the likelihood that the FDA would place a clinical hold on preclinical studies of FTX-6058; (iii) accordingly, the Company had overstated FTX-6058's clinical and/or commercial prospects; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

Stem, Inc. f/k/a Star Peak Energy Transition Corp. (NYSE:STEM)

CONTACT JAKUBOWITZ ABOUT STEM:
https://claimyourloss.com/securities/stem-inc-class-action-loss-submission-form/?id=40607&from=1

This lawsuit is on behalf of a class consisting of all persons and entities other than defendants that purchased or otherwise acquired Stem securities: (a) pursuant and/or traceable to certain documents issued in connection with the merger consummated on April 28, 2021, by and among the Company, STPK Merger Sub Corp., and Stem, Inc., a private Delaware corporation; and/or (b) between March 4, 2021, and February 16, 2023, both dates inclusive.

Lead Plaintiff Deadline: July 11, 2023

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Legacy Stem suffered from material weaknesses in internal control over financial reporting related to accounting for the deferred cost of goods sold and inventory, certain revenue recognition calculations, and internal-use capitalized software calculations; (ii) the Company had overstated Legacy Stem's and its own post-Merger business and financial prospects; (iii) Stem's software revenue did not makeup 100% of the Company's services revenue; (iv) Stem had overstated the benefits expected to flow from its AP partnership; and (v) as a result, the offering documents and defendants public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.

Funko, Inc. (NASDAQ:FNKO)

CONTACT JAKUBOWITZ ABOUT FNKO:
https://claimyourloss.com/securities/funko-class-action-loss-submission-form/?id=40607&from=1

Class Perio : May 6, 2022 - March 1, 2023

Lead Plaintiff Deadline: August 1, 2023

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Funko was experiencing significantly larger delays in implementing its enterprise resource planning ("ERP") software than it was disclosing to investors; (ii) having moved into a new warehouse without functioning ERP software in place would lead to dramatically higher costs and poorer inventory management practices; and (iii) Funko's inability to efficiently operate the new distribution center would have a substantial, undisclosed impact on Funko's earnings before interest, taxes, depreciation, and amortization ("EBITDA") margin.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887

SOURCE: Jakubowitz Law

ACCESSWIRE

News network reaching more than 1,500 media outlets in 98 countries. The newest, fastest-growing and most disruptive newswire available today.