A lawsuit was filed on behalf of investors in Fab Universal Corp (NYSEMKT:FU) shares over alleged securities laws violations. Deadline: January 17, 2014. NYSEMKT:FU investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com

San Diego, CA -- (SBWire) -- 11/20/2013 --An investor, who purchased shares of Fab Universal Corp (NYSEMKT:FU), filed a lawsuit in the District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Fab Universal Corp in connection with certain allegedly false and misleading statements made between June 12, 2012 and November 18, 2013.

Investors who purchased shares of Fab Universal Corp (NYSEMKT:FU) have certain options and for certain investors are short and strict deadlines running. Deadline: January 17, 2014. NYSEMKT:FU investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired Fab Universal Corp (NYSEMKT:FU) between June 12, 2012 and November 18, 2013, that Fab Universal Corp and certain of its officers and directors violated the Securities Exchange Act of 1934.

More specifically, the plaintiff alleges that the defendants made allegedly materially false and misleading statements and/or failed to disclose that Fab Universal Corp overstated the number of Intelligent Media Kiosks ("Kiosks") deployed in China, that Fab Universal Corp’s Kiosks were inundated with pirated digital media entertainment, and that a subsidiary of Fab Universal Corp issued RMB 100 million (16.4 million) in bonds to Chinese investors.

Fab Universal Corp reported that its annual Total Revenue rose from $3.11 million in 2011 to $27.46 million in 2012 and that its respective Net Loss declined from $9.49 million to $4.18 million.

Shares of Fab Universal Corp (NYSEMKT:FU) grew from $2.01 per share in July 2012 to as high as $7.82 per share in September 2013.

Then on November 14, 2013, a report was published that alleged that FAB Universal has greatly exaggerated its true financial performance.

Shares of Fab Universal Corp (NYSEMKT:FU) closed on November 14, 2013, at $5.25 per share.

Those who purchased shares of Fab Universal Corp (NYSEMKT:FU) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com