Franklin Wireless settles Section 16(b) derivative suit; CEO to pay $1M, company to pay $550K

FRANKLIN WIRELESS CORP

Jury verdict in February 2024 awarded plaintiff $2M for CEO OC Kim's short-swing profits.
Settlement dated June 12, 2024: CEO Kim pays Franklin $1M; Franklin pays plaintiff's attorneys $550K.
CEO will dismiss his appeal; mutual releases among parties.
Case: Nosirrah Management v. Franklin Wireless et al., S.D. Cal. (Case 3:21-cv-01316-CAB-JLB).

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