LOS ANGELES, Dec. 20, 2013 (GLOBE NEWSWIRE) -- Glancy Binkow & Goldberg LLP announces that all purchasers of the common stock, call options and sellers of put options of FAB Universal Corporation ("FAB" or the "Company") (NYSE MKT:FU) between June 15, 2012 and November 18, 2013, inclusive (the "Class Period'), have until January 17, 2014, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit filed in the United States District Court for the Southern District of New York.
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE CONTACT US AT (212) 682-5340, TOLL-FREE AT (888) 773-9224, OR AT SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.
FAB engages in the distribution of digital entertainment products and services worldwide. The Complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and failed to disclose material adverse facts about the Company's business, operations and financial performance. Specifically, the defendants misrepresented or failed to disclose that:
- The Company overstated the number of Intelligent Media Kiosks deployed in China.
- The Company's Kiosks were inundated with pirated digital media entertainment.
- A Company subsidiary issued RMB 100 million ($16.4 million) in bonds to Chinese investors.
If you are a member of the Class described above, you have certain rights and have until January 17, 2014, to move for lead plaintiff status. To be a member of the Class you need not take any action at this time or may retain counsel of your choice. If you wish to learn more about this action, or if you have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.