---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-23-003774"
form_type: "8-K"
ticker: "FKWL"
cik: "0000722572"
company_name: "FRANKLIN WIRELESS CORP"
filed_at: "2023-05-31T23:59:59+00:00"
generated_at: "2026-06-14T10:57:25.462679+00:00"
event_type: "litigation"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Franklin Wireless settles securities class action for $2.4M over Jetpack defects

## Summary
- Settlement resolves securities fraud claims over alleged defective Jetpack batteries supplied to Verizon; no admission of wrongdoing.
- Defendants will pay $2.4M into escrow for class members; court must approve settlement.
- Class period covers purchases of Franklin common stock (FKWL) between Sep 17, 2020 and Apr 8, 2021.
- The company cited uncertainty and expense of further litigation as reasons for settling.

## SEC filing metadata
- accession: 0001683168-23-003774
- form_type: 8-K
- ticker: FKWL
- cik: 0000722572
- company_name: FRANKLIN WIRELESS CORP
- filed_at: 2023-05-31T23:59:59+00:00
- event_type: litigation
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/722572/000168316823003774/0001683168-23-003774-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/722572/000168316823003774/franklin_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-23-003774
- JSON: https://secwatch.observer/filing/0001683168-23-003774.json
- Plain text: https://secwatch.observer/filing/0001683168-23-003774.txt

## Key facts
- Material Agreements
  FRANKLIN WIRELESS CORP entered into Stipulation and Agreement of Settlement valued at $2.4 million (effective 2023-05-23).
  - Action: entry
  - Agreement: settlement
  - Value: $2.4 million
  - Effective: 2023-05-23
  source text: The Memorandum of Understanding was formalized in a Stipulation and Agreement of Settlement (the “Settlement Agreement”) that was executed on May 23, 2023 and filed with the Court on May 24, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/722572/000168316823003774/0001683168-23-003774-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.