FAB Universal Responds to Allegations

PITTSBURGH--(BUSINESS WIRE)-- FAB Universal

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