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FKWL.US
id: 741

Franklin Wireless (FKWL) $2.4M Shareholder Settlement

Late claims are being considered for compensation, subject to approval.
S.D. California
Court
3:21-cv-00687
Case number
09/17/2020
Class period Start
04/08/2021
Class period End
08/22/2024
Claim deadline
Franklin 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

Franklin Wireless Corp

Franklin Wireless Corp. provides integrated wireless solutions in North America and Asia. The company offers 5G/4G wireless broadband products, such as portable wi-fi mobile hotspot routers, fixed ...

    Ticker
    FKWL.US
    ISIN
    US3551841022
    CIK
    722572
    Sector
    Technology
    Industry
    Communication Equipment
    Country
    USA
    Address
    3940 Ruffin Road, San Diego, CA, United States, 92123