FAB Universal Board Reports Engagement of FTI Consulting by Loeb & Loeb to Undertake Independent Investigation [Professional Services Close - Up]
(Professional Services Close - Up Via Acquire Media NewsEdge) FAB Universal, a worldwide distributor of digital media and entertainment, announced that the international law firm, Loeb & Loeb LLP, engaged by the Company's Board of Directors to investigate allegations made in published reports through November 19, 2013 by short-sellers of FAB's common stock, has retained FTI Consulting, Inc. and FTI Investigations LLC (collectively "FTI") to assist it.
According to a release, FTI will provide independent investigation support to Loeb & Loeb, which is working with the Company's Board of Directors, in connection with the review of certain issues raised by the short sellers regarding accounting, licensing and kiosk locations.
"We are pleased that Loeb has retained FTI, which has outstanding capabilities and an outstanding reputation. Management remains in complete support of the independent investigation of these issues and continues to be committed to full cooperation," said Christopher Spencer, CEO of FAB.
FAB Universal Corp. is a company focusing on digital media entertainment sales and distribution.
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