U.S. Court of Appeals for the Ninth Circuit
Construction Laborers Pension Trust of Greater St. Louis v. Funko Inc
September 2, 2026
Summary
The Ninth Circuit affirmed the district court’s dismissal of certain affirmative statements but reversed the dismissal of risk‑factor disclosures about inventory management and information‑technology systems, finding the plaintiffs plausibly alleged falsity and scienter, and also reversed the dismissal of the §20(a) control‑liability claim.