SHAREHOLDER ACTION NOTICE: The Schall Law Firm Reminds Investors of a Class Action Lawsuit Against Franklin Wireless Corp. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
LOS ANGELES, May 3, 2021 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Franklin Wireless Corp. ("Franklin" or "the Company") (NASDAQ: FKWL) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between September 17, 2020 and April 8, 2021, inclusive (the ''Class Period''), are encouraged to contact the firm before June 15, 2021.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Franklin's hotspot products suffered from problems with their batteries such as overheating which caused the devices to become a fire hazard. The Company's customers were likely to be forced to recall the hotspot devices from their end-user customers. Based on these facts, the Company's public statements were false and materially misleading. When the market learned the truth about Franklin, investors suffered damages.