Click here to join the case
LOS ANGELES, April 20, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Franklin Wireless Corp. (NASDAQ: FKWL) investors that acquired shares between September 17, 2020 and April 8, 2021.
Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.
On April 9, 2021, the Company reported that, Verizon Wireless has issued a voluntary recall of Jetpack Hotspot devices imported by Franklin. Several news sources reported that some of the Company’s wireless devices had overheated and caused fire damage.
On this news, Franklin’s share price fell sharply during intraday trading on April 9, 2021.
The case alleges that Franklin Wireless and its senior executives made misleading statements to investors and failed to disclose that: (1) Franklin's hotspot devices suffered from battery issues, including overheating, thereby presenting a fire hazard; (2) as a result, it was reasonably likely that Franklin's customers would recall their devices; and (3) as a result, Franklin would suffer reputational harm.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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