Portnoy Law: Lawsuit Filed On Behalf of Franklin Wireless Corporation Investors
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The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Franklin Wireless Corporation (“Franklin” or “the Company”) (NASDAQ: FKWL) investors that acquired securities between September 17, 2020 and April 8, 2021.
Investors are encouraged to contact attorney
Lesley F. Portnoy
email, or
click here to join the case.
It is alleged in this complaint that on April 1, 2021, Franklin stated that it “ha[d] been notified of reports of battery issues in some of its wireless hotspot device” and that it was “working with its battery and device manufacturing partners and carrier customer to determine the cause and extent of the problem.” Then, on April 8, it was reported in the media that Verizon Wireless “is recalling 2.5 million hotspot devices after discovering that the lithium ion battery can overheat, creating a fire and burning hazard
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors Franklin Wireless Corporation
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SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors Franklin Wireless Corporation
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
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NEW YORK, April 13, 2021 /PRNewswire/ Pomerantz LLP is investigating claims on behalf of investors of Franklin Wireless Corporation ( Franklin Wireless or the Company ) (NASDAQ: FKWL). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Franklin Wireless and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 9, 2021, Franklin Wireless issued a press release announcing that the Company has been notified that Verizon Wireless has issued a voluntary recall of its Jetpack Hotspot devices imported by Franklin. Verizon Wireless s recall was prompted by reports of the lithium-ion batteries in the devices overheating, posing a fire hazard.