Market Overview

FAB Universal Responds to Allegations

FAB Universal (NYSE: FU) announced today the findings of the preliminary
internal review undertaken at the direction of FAB's Board of Directors
in response to the allegations made in numerous published reports
through November 19, 2013 by acknowledged short-sellers of FAB's common
stock.

The Board of Directors takes these allegations seriously and is aware
that they have created doubt about FAB Universal and its business
operations and financial reporting. The Board and its management team
remain committed to providing the highest level of transparency in its
financial reporting and maintaining the trust of its shareholders. The
management team has been working diligently to complete the preliminary

See full press release

Posted-In: News Guidance Management Global

 

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