FKWL.US
id: 741
Franklin Wireless (FKWL) $2.4M Shareholder Settlement
Late claims are being considered for compensation, subject to approval.
S.D. California
Court3:21-cv-00687
Case number09/17/2020
Class period Start04/08/2021
Class period End08/22/2024
Claim deadlineFranklin Wireless Corp. (FKWL) agreed to settle $2.4 million with investors to end claims over concealing that Franklin’s hotspot devices suffered from battery issues, including overheating, thereby presenting a fire hazard.
Case Status
Accepting Late Claims
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.95
Filing date
04/16/2021
Plaintiffs
Gergely Csaba
Attorneys
Pomerantz LLP (New York, NY), Portnoy Law Firm (Los Angeles, CA)
Defendants
OC Kim, David Brown
Judge
Hon. Anthony J. Battaglia
Administrator
EPIQ
Settlement agreement date
2023-05-24
Trades matching type
FIFO
+$2,400,000
Cash Settlement Amount