FKWL Franklin Wireless Corp.

Franklin Access (Formerly Franklin Wireless) Successfully Defends Shareholder Litigation

Franklin Access (Formerly Franklin Wireless) Successfully Defends Shareholder Litigation

SAN DIEGO, Dec. 24, 2024 (GLOBE NEWSWIRE) -- Franklin Access is pleased to announce a significant legal victory in its shareholder litigation, “In re Franklin Wireless Corp. Derivative Litigation”, Case No. 21-cv-1837-BEN-MSB. On December 19th, 2024, following an 8-day jury trial, the U.S. District Court for the Southern District of California determined that the actions of the Franklin Wireless officers and directors during the relevant time period resulted in only nominal damage to the company.

Plaintiffs sought in excess of $110 million in damages from the officers and directors of the company. After less than a single day of deliberation, the jury reached its verdict and awarded nominal damages of $0.99. Franklin’s officers and directors were represented by lawyers Stephen M. Lobbin, of the law firm SML Avvocati P.C., and Philip Tencer, of TencerSherman LLP.

Resolution of this case ends a long and difficult time for the Company’s Officers and Directors, and provides certainty and clarity for the future. Management will now be free to focus on its mission to deliver innovative connectivity solutions without the distraction of litigation.

For more information about Franklin Wireless, visit FranklinAccess.com.

About Franklin Access

Franklin Wireless (FKWL) specializes in integrated solutions, leveraging 4G LTE and 5G technologies. From mobile device management to network management solutions, the company designs innovative connectivity solutions for the digital age. Explore more at FranklinAccess.com.

Safe Harbor Statement

Certain statements in this press release constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Actual results may differ materially from those expressed or implied due to various factors.

For media inquiries, please contact: 



EN
24/12/2024

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Franklin Wireless Corp.

 PRESS RELEASE

Franklin Access Announces the First in Its New Series of Remotely Mana...

Franklin Access Announces the First in Its New Series of Remotely Managed M2M Routers for IoT: The Seiona – RT410S SAN DIEGO, April 01, 2025 (GLOBE NEWSWIRE) -- Franklin Access, a leading provider of integrated wireless solutions, has unveiled its latest product, the Seiona – RT410S, at the Channel Partners Conference in Las Vegas. The Seiona – RT410S delivers secure, stable, and reliable connectivity for a wide range of edge applications, expanding Franklin’s product offerings into the multi-billion-dollar IoT market. Designed for industries such as digital signage, healthcare, ATMs, kio...

 PRESS RELEASE

Franklin Access Appoints Ira Greenstein to Board of Directors

Franklin Access Appoints Ira Greenstein to Board of Directors SAN DIEGO, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Franklin Wireless Corp. (NASDAQ: FKWL) announces the appointment of Ira Greenstein to the Company’s Board of Directors, effective February 17, 2025. “We are pleased to welcome Ira Greenstein to the Company’s Board of Directors,” said OC Kim, President and CEO of Franklin Wireless. “Ira’s extensive legal, corporate, and government experience brings a new depth of knowledge, critical skills in strategic decision-making and governance to the board.” Mr. Greenstein is a Founding Partne...

 PRESS RELEASE

Franklin Access Secures Funding for Sigbeat Joint Venture, Advancing 4...

Franklin Access Secures Funding for Sigbeat Joint Venture, Advancing 4G/5G and AI Module Innovation SAN DIEGO, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Franklin Access (NASDAQ: FKWL) announced today the successful funding of its joint venture to develop 4G/5G modules and AI-powered solutions under the Sigbeat brand. The Sigbeat joint venture will design, market, and certify 4G/5G modules featuring advanced on-device AI capabilities, including enhanced security, image processing, and video streaming functionalities. These modules aim to provide faster response times, stronger privacy safeguards,...

 PRESS RELEASE

Franklin Access (Formerly Franklin Wireless) Successfully Defends Shar...

Franklin Access (Formerly Franklin Wireless) Successfully Defends Shareholder Litigation SAN DIEGO, Dec. 24, 2024 (GLOBE NEWSWIRE) -- Franklin Access is pleased to announce a significant legal victory in its shareholder litigation, “In re Franklin Wireless Corp. Derivative Litigation”, Case No. 21-cv-1837-BEN-MSB. On December 19th, 2024, following an 8-day jury trial, the U.S. District Court for the Southern District of California determined that the actions of the Franklin Wireless officers and directors during the relevant time period resulted in only nominal damage to the company. Pla...

 PRESS RELEASE

Franklin Access Announces Updates to JEXtream MDM Platform

Franklin Access Announces Updates to JEXtream MDM Platform SAN DIEGO, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Franklin Access unveils significant enhancements to its JEXtream Mobile Device Management (MDM) platform, reinforcing its commitment to providing versatile solutions for enterprise clients and educational institutions. Key Updates 1.  Internet Suspension Feature a.  Enables efficient management of internet functionality across individual or multiple devicesb.  Particularly valuable for corporate clients managing large device fleets 2.  Single Sign-On (SSO) Integration a...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch