---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-24-004248"
form_type: "8-K"
ticker: "FKWL"
cik: "0000722572"
company_name: "FRANKLIN WIRELESS CORP"
filed_at: "2024-06-14T23:59:59+00:00"
generated_at: "2026-06-01T04:28:17.615343+00:00"
event_type: "litigation"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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).

## SEC filing metadata
- accession: 0001683168-24-004248
- form_type: 8-K
- ticker: FKWL
- cik: 0000722572
- company_name: FRANKLIN WIRELESS CORP
- filed_at: 2024-06-14T23:59:59+00:00
- event_type: litigation
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/722572/000168316824004248/0001683168-24-004248-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/722572/000168316824004248/franklin_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-24-004248
- JSON: https://secwatch.observer/filing/0001683168-24-004248.json
- Plain text: https://secwatch.observer/filing/0001683168-24-004248.txt

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