Faruqi & Faruqi, LLP Announces Investigation of FAB Universal Corporation

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Nov 15, 2013, 09:09 ET

NEW YORK, Nov. 15, 2013 /PRNewswire/ -- 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).

(Logo: http://photos.prnewswire.com/prnh/20120119/MM38856LOGO )

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.

Request more information now by clicking here: www.faruqilaw.com/FU. There is no cost or obligation to you.

Take Action

If you lost more than $100,000 investing in FAB stock or options and would like to discuss your legal rights, visit www.faruqilaw.com/FU. You can also 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 [email protected] or [email protected]. Faruqi & Faruqi, LLP also encourages anyone with information regarding FAB's conduct to contact the firm, including whistleblowers, former employees, shareholders, and others.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.

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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
[email protected]
Francis McConville, Esq.
[email protected]
Telephone: (877) 247-4292 or (212) 983-9330

SOURCE Faruqi & Faruqi, LLP