Fab Universal Corp. Common Stoc (FU) 3.07 $FU
Sungy Mobile Is Sinking, While Its Executives Are Abandoning Ship
Radiant Research - at Seeking Alpha - Tue Nov 18, 4:00AM CST
QIHU: 60.48 (+1.47), FU: 3.07 (unch), GOMO: 4.94 (+0.10), GIGM: 0.78 (+0.01)
FAB Provides Update on Internal Investigation and NYSE MKT Delisting Proceedings
Business Wire - Tue Aug 12, 4:02PM CDT
FAB Universal (NYSE MKT: FU) ("FAB" or the "Company"
, a worldwide distributor of digital media and entertainment, today announced the completion of the investigation of allegations raised by short sellers and repeated in civil complaints. On March 5, 2014, the Company announced that the Board of Directors had engaged Loeb & Loeb LLP ("Loeb" , which in turn retained FTI Consulting, Inc. and FTI Investigations LLC (collectively, "FTI" as independent investigators, to investigate allegations that the Company's kiosk business was overstated and that licensees were offered guaranteed returns. In addition, Loeb investigated allegations that the kiosks offered pirated content, that a subsidiary engaged in an undisclosed bond offering in the People's Republic of China, and that the Chairman held an undisclosed controlling interest in the company that provided maintenance and other services to the kiosks located in Beijing.
FU: 3.07 (unch), FCN: 38.02 (+0.58)
Sungy Mobile Is Sinking, While Its Executives Are Abandoning Ship
Radiant Research - at Seeking Alpha - Tue Nov 18, 4:00AM CST
QIHU: 60.48 (+1.47), FU: 3.07 (unch), GOMO: 4.94 (+0.10), GIGM: 0.78 (+0.01)
FAB Provides Update on Internal Investigation and NYSE MKT Delisting Proceedings
Business Wire - Tue Aug 12, 4:02PM CDT
FAB Universal (NYSE MKT: FU) ("FAB" or the "Company"
, a worldwide distributor of digital media and entertainment, today announced the completion of the investigation of allegations raised by short sellers and repeated in civil complaints. On March 5, 2014, the Company announced that the Board of Directors had engaged Loeb & Loeb LLP ("Loeb" , which in turn retained FTI Consulting, Inc. and FTI Investigations LLC (collectively, "FTI" as independent investigators, to investigate allegations that the Company's kiosk business was overstated and that licensees were offered guaranteed returns. In addition, Loeb investigated allegations that the kiosks offered pirated content, that a subsidiary engaged in an undisclosed bond offering in the People's Republic of China, and that the Chairman held an undisclosed controlling interest in the company that provided maintenance and other services to the kiosks located in Beijing. FU: 3.07 (unch), FCN: 38.02 (+0.58)
