Franklin Wireless (FKWL) disclosed in an 8-K filed July 31 that its South Korean subsidiary, Franklin Technology Inc. (FTI), lost a court ruling in a contract dispute with Partron Co. The Seoul Central District Court ordered FTI to pay Partron roughly $3.67 million, plus accrued interest at 5% per year from November 4, 2022 to July 16, 2026, and post-judgment interest at 12% per year thereafter. The company says it is reviewing the written decision with counsel and considering an appeal. This is an Item 8.01 disclosure, and the filing does not state how material the judgment is to the company's overall finances.
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