Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit On Behalf Of Investors Of FAB Universal Corporation

Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of a class (the “Class”) comprising 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 12, 2012 to November 18, 2013, inclusive (the “Class Period”).

A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE CONTACT US TOLL-FREE AT (888) 773-9224, OR AT (212) 682-5340, OR BY EMAIL TO 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 may move the Court no later than January 17, 2013, to serve as lead plaintiff; however, you must meet certain legal requirements. If you wish to learn more about this action or have any questions concerning this announcement 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. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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