Franklin Access (Formerly Franklin Wireless) Successfully Defends Shareholder Litigation [Yahoo! Finance]
Franklin Wireless Corp. - common stock (FKWL)
NASDAQ:AMEX Investor Relations:
franklinwireless.com/investors
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Source: Yahoo! Finance
SAN DIEGO, Dec. 24, 2024 (GLOBE NEWSWIRE) -- Franklin Access is pleased to announce a significant legal victory in its shareholder litigation, “In re Franklin Wireless Corp. Derivative Litigation”, Case No. 21-cv-1837-BEN-MSB. On December 19th, 2024, following an 8-day jury trial, the U.S. District Court for the Southern District of California determined that the actions of the Franklin Wireless officers and directors during the relevant time period resulted in only nominal damage to the company. Plaintiffs sought in excess of $110 million in damages from the officers and directors of the company. After less than a single day of deliberation, the jury reached its verdict and awarded nominal damages of $0.99. Franklin's officers and directors were represented by lawyers Stephen M. Lobbin, of the law firm SML Avvocati P.C., and Philip Tencer, of TencerSherman LLP. Resolution of this case ends a long and difficult time for the Company's Officers and Directors, and provides certainty
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Sec Filings
- 12/6/24 - Form 8-K
- 11/14/24 - Form 10-Q
- 10/25/24 - Form DEF
- FKWL's page on the SEC website