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A lawsuit was filed on behalf of investors in Franklin Wireless Corp. (NASDAQ: FKWL) shares over alleged securities laws violation

An investor, who purchased shares of Franklin Wireless Corp. (NASDAQ: FKWL), filed a lawsuit a over alleged violations of Federal Securities Laws by Franklin Wireless Corp.

Investors who purchased shares of Franklin Wireless Corp. (NASDAQ: FKWL) have certain options and for certain investors are short and strict deadlines running. Deadline: June 15, 2021. NASDAQ: FKWL investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

San Diego, CA based Franklin Wireless Corp. provides intelligent wireless solutions. On April 9, 2021, Franklin Wireless Corp reported that it had been notified “that Verizon Wireless has issued a voluntary recall of its Jetpack Hotspot devices imported by Franklin.” The Company stated that it was “work[ing] with its battery and device manufacturing partners to determine the cause and extent of the concerns.”

Shares of Franklin Wireless Corp. (NASDAQ: FKWL) declined from $22 per share in late March 2021, to as low as $11.87 per share on April 12, 2021.

The plaintiff claims that between September 17, 2020 and April 8, 2021, the Defendants failed to disclose to investors that Franklin’s hotspot devices suffered from battery issues, including overheating, thereby presenting a fire hazard, that, as a result, it was reasonably likely that the Company’s customers would recall Franklin’s devices, that, as a result, Franklin would suffer reputational harm, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Franklin Wireless Corp. (NASDAQ: FKWL) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.