NEW YORK, Jan. 13, 2022 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that it is investigating whether the directors and/or officers of Franklin Wireless Corp. (“Franklin Wireless” or the “Company”) (NASDAQ: FKWL) breached their fiduciary duties of loyalty, good faith and candor and whether the Company suffered substantial harm as a result.
According to a complaint filed by investors in the securities of the Company, allegedly failed to disclose to investors: (1) that the Company’s hotspot devices suffered from battery issues, including overheating, thereby presenting a fire hazard; (2) that, as a result, it was reasonably likely that the Company’s customers would recall the Company’s devices; (3) that, as a result, the Company would suffer reputational harm; and (4) that, as a result of the foregoing, the positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you are an investor in Franklin Wireless securities and wish to discuss your rights or if you are aware of any facts relating to this investigation, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
