The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of DIS, STEM and FNKO

[ACCESSWIRE]

NEW YORK, NY / ACCESSWIRE / June 6, 2023 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.

The Walt Disney Company (NYSE:DIS)
Class Period: December 10, 2020 - November 8, 2022
Lead Plaintiff Deadline: July 11, 2023

The DIS lawsuit alleges that The Walt Disney Company made materially false and/or misleading statements and/or failed to disclose that: (a) Disney+ was suffering decelerating subscriber growth, losses, and cost overruns; (b) the true costs incurred in connection with Disney+ had been concealed by Disney executives by debuting certain content intended for Disney+ initially on Disney's legacy distribution channels and then making the shows available on Disney+ thereafter in order to improperly shift costs out of the Disney+ segment; (c) Disney Media and Entertainment Distribution had made platform distribution decisions based not on consumer preference, consumer behavior, or the desire to maximize the size of the audience for the content as represented, but based on the desire to hide the full costs of building Disney+'s content library; (d) the Company was not on track to achieve its 2024 Disney+ paid global subscriber and profitability targets, that such targets were not achievable, and that such estimates lacked a reasonable basis in fact; and (e) as a result of (a)-(d) above, defendants had materially misrepresented the actual performance of Disney+, the sustainability of Disney+'s historical growth trends, the profitability of Disney+, and the likelihood that Disney could achieve its 2024 Disney+ subscriber and profitability targets.

Learn about your recoverable losses in DIS: https://www.kleinstocklaw.com/pslra-1/disney-lawsuit-loss-submission-form?id=40453&from=1

Stem, Inc. f/k/a Star Peak Energy Transition Corp. (NYSE:STEM)
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 STEM lawsuit alleges that throughout the class period, Stem, Inc. f/k/a Star Peak Energy Transition Corp. 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.

Learn about your recoverable losses in STEM: https://www.kleinstocklaw.com/pslra-1/stem-lawsuit-loss-submission-form?id=40453&from=1

Funko, Inc. (NASDAQ:FNKO)
Class Period: May 6, 2022 - March 1, 2023
Lead Plaintiff Deadline: August 1, 2023

Throughout the class period, Funko, Inc. allegedly 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.

Learn about your recoverable losses in FNKO: https://www.kleinstocklaw.com/pslra-1/funko-lawsuit-loss-submission-form?id=40453&from=1

Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.

J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
535 Fifth Avenue
4th Floor
New York City, NY 10017
[email protected]
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com

SOURCE: The Klein Law Firm