Franklin Access (Formerly Franklin Wireless) Successfully Defends Shareholder Litigation
Franklin Access (FKWL) has secured a significant legal victory in its shareholder litigation case 'In re Franklin Wireless Corp. Derivative Litigation'. On December 19th, 2024, following an 8-day jury trial in the U.S. District Court for the Southern District of California, the jury awarded nominal damages of just $0.99, despite plaintiffs seeking over $110 million in damages from the company's officers and directors.
The court determined that the actions of Franklin Wireless officers and directors during the relevant period resulted in only nominal damage to the company. This resolution ends a challenging period for the Company's Officers and Directors, allowing management to refocus on delivering innovative connectivity solutions without litigation distractions.
Franklin Access (FKWL) ha ottenuto una significativa vittoria legale nel caso di contenzioso tra azionisti 'In re Franklin Wireless Corp. Derivative Litigation'. Il 19 dicembre 2024, dopo un processo di 8 giorni presso il Tribunale Distrettuale degli Stati Uniti per il Distretto Meridionale della California, la giuria ha awarded damages nominali di soli $0.99, nonostante i querelanti chiedessero oltre $110 milioni in danni contro gli ufficiali e i direttori della società.
Il tribunale ha stabilito che le azioni degli ufficiali e dei direttori di Franklin Wireless durante il periodo rilevante hanno comportato solo un danno nominale per l'azienda. Questa risoluzione segna la fine di un periodo difficile per gli ufficiali e i direttori della società, permettendo alla dirigenza di concentrarsi nuovamente sulla fornitura di soluzioni di connettività innovative, senza distrazioni legali.
Franklin Access (FKWL) ha logrado una victoria legal significativa en su caso de litigio de accionistas 'In re Franklin Wireless Corp. Derivative Litigation'. El 19 de diciembre de 2024, tras un juicio de 8 días en el Tribunal del Distrito de EE.UU. para el Distrito Sur de California, el jurado otorgó daños nominales de solo $0.99, a pesar de que los demandantes buscaban más de $110 millones en daños contra los funcionarios y directores de la empresa.
El tribunal determinó que las acciones de los oficiales y directores de Franklin Wireless durante el período relevante resultaron en un daño solo nominal para la empresa. Esta resolución pone fin a un período desafiante para los funcionarios y directores de la empresa, permitiendo a la dirección volver a enfocarse en ofrecer soluciones de conectividad innovadoras, sin distracciones legales.
프랭클린 액세스 (FKWL)는 주주 소송 사건 'In re Franklin Wireless Corp. 파생 소송'에서 중요한 법적 승리를 거두었습니다. 2024년 12월 19일, 캘리포니아주 남부 지방법원에서 8일간의 배심원 재판 후, 배심원은 회사의 임원과 이사들에 대해 1억 1천만 달러 이상의 손해 배상을 요구한 원고들에도 불구하고, 단지 0.99달러의 명목상의 손해 배상만을 awarded했습니다.
법원은 관련 기간 동안 프랭클린 무선의 임원과 이사들의 행동이 회사에 단지 명목상의 손해만을 초래했다고 판결했습니다. 이 결론은 회사의 임원들과 이사들에게 어려운 시기를 끝내고, 경영진이 법적 방해 없이 혁신적인 연결 솔루션을 제공하는 데 다시 집중할 수 있게 합니다.
Franklin Access (FKWL) a remporté une victoire légale significative dans son affaire de contentieux des actionnaires 'In re Franklin Wireless Corp. Derivative Litigation'. Le 19 décembre 2024, après un procès de 8 jours devant le tribunal de district des États-Unis pour le district sud de la Californie, le jury a accordé des dommages-intérêts nominaux de seulement 0,99 $, malgré une demande des plaignants de plus de 110 millions de dollars de dommages-intérêts contre les dirigeants et les administrateurs de l'entreprise.
Le tribunal a déterminé que les actions des dirigeants et des administrateurs de Franklin Wireless durant la période concernée n'avaient entraîné qu'un dommage nominal pour l'entreprise. Cette résolution met fin à une période difficile pour les dirigeants et les administrateurs de l'entreprise, permettant à la direction de se recentrer sur la fourniture de solutions de connectivité innovantes sans distractions juridiques.
Franklin Access (FKWL) hat einen bedeutenden rechtlichen Sieg in ihrem Aktionärsklagefall 'In re Franklin Wireless Corp. Derivative Litigation' errungen. Am 19. Dezember 2024, nach einem 8-tägigen Geschworenenprozess am US-Bezirksgericht für den südlichen Distrikt Kalifornien, sprach die Jury nur nominale Schäden in Höhe von 0,99 USD aus, obwohl die Kläger mehr als 110 Millionen USD Schadensersatz von den Führungskräften und Direktoren des Unternehmens forderten.
Das Gericht stellte fest, dass das Verhalten der Führungskräfte und Direktoren von Franklin Wireless im relevanten Zeitraum nur zu nominalen Schäden für das Unternehmen geführt hat. Diese Entscheidung beendet eine herausfordernde Zeit für die Führungskräfte und Direktoren des Unternehmens und ermöglicht es dem Management, sich wieder auf die Bereitstellung innovativer Konnektivitätslösungen ohne rechtliche Ablenkungen zu konzentrieren.
- Legal victory against $110 million shareholder lawsuit with minimal damages of $0.99
- Removal of significant legal uncertainty and litigation distraction for management
- Resolution allows management to refocus on core business operations
- Company incurred legal defense costs and management time dealing with litigation
Insights
The jury verdict in the shareholder derivative litigation represents a decisive victory for Franklin Access. The
This outcome removes a significant legal overhang that has likely constrained the company's market valuation and strategic flexibility. For a small-cap company with a market capitalization of
The verdict's timing and completeness allows management to redirect resources from legal defense to business operations, particularly important as the company positions itself in the competitive 4G LTE and 5G solutions market. This legal clarity should also enhance the company's ability to pursue strategic partnerships and capital raising activities, which were likely hampered during the litigation period.
The resolution of this litigation materially improves Franklin Access's risk profile and financial outlook. The nominal damages of
For a microcap company in the competitive wireless technology sector, this legal victory has several positive financial implications: reduced legal expenses will improve cash flow, management can focus on operational execution and the removal of litigation risk could lower the company's cost of capital. The verdict may also help restore investor confidence, potentially leading to improved trading multiples and easier access to growth capital.
Think of this as removing a massive weight from a sprinter before a race - Franklin Access can now move faster and more efficiently in pursuing its business objectives in the rapidly evolving connectivity solutions market. The company's ability to execute its growth strategy in 4G LTE and 5G technologies should significantly improve without the distraction and resource drain of major 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
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: marketing@franklinaccess.com
FAQ
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