Oct 20 (Reuters) - Funtastic Ltd FUN.AX :
* Madman claim update FUN.AX
* Says proceeding arises from the share sale agreement by which Funtastic sold the madman entertainment group of companies
* Independent accountant concluded in their final report that an adjustment amount of $332,000 in funtastic's favour was payable by mfm
* Says filed a statement of claim against madman film and media pty ltd (mfm) in the supreme court of Victoria on 6 October 2015
* In claim, alleges that independent accountant made error by not allowing certain adjustments in completion accounts in favour co totalling $2.5 million
* Says confined its claim to an adjustment amount of $2.5 million
* Source text for Eikon ID:nASX49wNTX