Faruqi & Faruqi, LLP Announces Investigation of FAB Universal Corporation
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud claims on behalf of investors of FAB Universal Corporation (“FAB” or the “Company”) (NYSE: FU).
The investigation focuses on whether the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and financial performance.
FAB is purportedly a distributor of copyright-protected digital media. On November 14, 2013, the Alfred Little website published a report that claims that FAB has embellished its financial performance. The report states in part that: (i) the Company’s “Intelligent Media Kiosks” include pirated U.S. movies, despite claims to the contrary; (ii) FAB’s kiosk manufacturers have acknowledged that they supplied only 10% of the total units the Company claims to have; (iii) one kiosk manufacturer aided in staging a deceptive manufacture site visit for FAB’s investors; (iv) the Company only has about 25% of the total number of kiosks it states operate in Bejiing; and (v) FAB offers to repurchase franchised kiosks using the Company’s common stock.
If you lost more than $100,000 investing in FAB stock or options and would like to discuss your legal rights, you can contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding FAB’s conduct to contact the firm, including whistleblowers, former employees, shareholders, and others.
Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you. If you want to be a Lead Plaintiff or join
this action now, please click HERE.
* The submission of this form does not create an attorney-client relationship.
Richard W. Gonnello
Faruqi & Faruqi, LLP
369 Lexington Avenue 10th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.