FRANKLIN FINANCIAL SERVICES CORPORATION (OTCMKTS:FRAF) Files An 8-K Other EventsItem 8.01Other Events
On July 18, 2017, the Plaintiffs in the Kalen, et al. v. Farmers and Merchants Trust Company of Chambersburg, et al. (Case No. 2:15-CV-01435 WB) case filed in the United States District Court for the Eastern District of Pennsylvania and described in our current report on Form 8-K filed July 29, 2016, have filed a motion with the court for leave to file a second amended complaint.The proposed second amended complaint purports to include new allegations and new counts against F&M Trust, the banking subsidiary of Franklin Financial Services Corporation, successor in interest to Community Trust Company, under the Racketeer Influenced and Corrupt Organizations Act (“RICO”), 18 U.S.C. §1961 et seq., seeking awards of treble damages, costs, attorneys’ fees and other relief deemed proper by the Court.F&M Trust intends to oppose and vigorously defend against the RICO claims.
Forward Looking Statements
Certain statements in this current report on Form 8-K constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.These statements are not guarantees and involve certain risks, uncertainties and assumptions that are difficult to predict and often beyond the Corporation’s control.You should not place undue reliance on any forward-looking statement and should consider the risks and uncertainties more fully discussed under Part I, Items 1A and 3, “Risk Factors” and “Legal Proceedings,” of the Corporation’s annual report on Form 10-K for the year ended December 31, 2016, and under Part II, Items 1 and 1A, “Legal Proceedings” and “Risk Factors,” of the Corporation’s quarterly report on Form 10-Q for the quarter ended March 31, 2017, and in any of the Corporation’s subsequent filings with the Securities and Exchange Commission.Forward-looking statements speak as of the date made, and the Corporation undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made.
About FRANKLIN FINANCIAL SERVICES CORPORATION (OTCMKTS:FRAF)
Franklin Financial Services Corporation is a bank holding company. The Company conducts its business through its banking subsidiary, Farmers and Merchants Trust Company of Chambersburg (the Bank). The Bank is a Pennsylvania-chartered commercial bank and trust company. It operates over 20 community banking offices in Franklin, Cumberland, Fulton and Huntingdon counties in Pennsylvania. The Bank is engaged in general commercial, retail banking and trust services associated with community banks. The Bank offers a range of services, including accepting and maintaining checking, savings, and time deposit accounts, making loans and providing safe deposit facilities to businesses, individuals and governmental entities. The Company’s subsidiary, Franklin Future Fund Inc., is a non-bank investment company that makes venture capital investments within the Company’s primary market area.