FAB Universal Corporation - Information Request Form
The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Southern District of New York on behalf of investors who purchased FAB Universal Corporation ("FAB" or the "Company") (NYSE MKT: FU) securities between June 15, 2012 and November 18, 2013.
The complaint alleges that defendants made materially false and misleading statements and/or failed to disclose that: (a) the Company overstated the number of Intelligent Media Kiosks deployed in China; (b) the Company's Kiosks were largely filled with pirated digital media; and (c) a Company subsidiary issued RMB 100 million (approximately $16.4 million) in bonds to Chinese investors.
On November 14, 2013, a report was issued on Alfredlittle.com alleging that FAB ad exaggerated its true financial performance. Among other allegations, the report alleges that the Company's "Intelligent Media Kiosks"-- which are meant to allow the download of copyright-protected movies--are in fact supplied with pirated American films. The report also suggests that the Company's director of franchise sales acknowledged that the Company has approximately 100 kiosks in Beijing, rather than the 3,954 disclosed in the Company's Proxy on June 1, 2012.
If you suffered a loss in FAB you have until January 17, 2014 to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.
To receive more information regarding the investigation of FAB please fill out the form below.
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of the Law Offices of Vincent Wong or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If The Law Offices of Vincent Wong, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, The Law Offices of Vincent Wong will contact you to discuss the matter and whether to establish an attorney client relationship.