---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-23-007412"
form_type: "8-K"
ticker: "FKWL"
cik: "0000722572"
company_name: "FRANKLIN WIRELESS CORP"
filed_at: "2023-10-25T23:59:59+00:00"
generated_at: "2026-06-09T12:18:49.327333+00:00"
event_type: "litigation"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Franklin gets $2M jury verdict vs CEO for short-swing trading; replaces auditor

## Summary
- Jury returned $2M verdict in favor of Franklin Wireless against CEO O.C. Kim for short-swing profit violations.
- CEO Kim has filed notice of intent to appeal the verdict.
- Auditor Kreit & Chiu dismissed; no disagreements or reportable events in fiscal 2022 and 2023.
- Simon & Edward, LLC engaged as new independent auditor for FY ending June 30, 2024.

## SEC filing metadata
- accession: 0001683168-23-007412
- form_type: 8-K
- ticker: FKWL
- cik: 0000722572
- company_name: FRANKLIN WIRELESS CORP
- filed_at: 2023-10-25T23:59:59+00:00
- event_type: litigation
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 4.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/722572/000168316823007412/0001683168-23-007412-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/722572/000168316823007412/franklin_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-23-007412
- JSON: https://secwatch.observer/filing/0001683168-23-007412.json
- Plain text: https://secwatch.observer/filing/0001683168-23-007412.txt

## Key facts
- Auditor Changes
  FRANKLIN WIRELESS CORP engaged Simon & Edward, LLC as its auditor.
  - Action: engagement
  - Auditor: Simon & Edward, LLC
  source text: On October 20, 2023, the Company engaged Simon & Edward, LLC as the Company's independent registered public accounting firm for the fiscal year ending June 30, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/722572/000168316823007412/0001683168-23-007412-index.htm
- Auditor Changes
  FRANKLIN WIRELESS CORP dismissed Kreit & Chiu CPA LLP as its auditor.
  - Action: dismissal
  - Auditor: Kreit & Chiu CPA LLP
  source text: On October 20, 2023, Kreit & Chiu CPA LLP (“K&C”) was dismissed as independent registered public accounting firm for Franklin Wireless Corp.
  evidence_url: https://www.sec.gov/Archives/edgar/data/722572/000168316823007412/0001683168-23-007412-index.htm

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