RILY - B. Riley Inc. Senior Management and its Board of Directors Are Being Investigated by Wolf Popper LLP a Leading Law Firm for Potential Breaches of Fiduciary Duty | Benzinga
NEW YORK, March 12, 2024 (GLOBE NEWSWIRE) -- Wolf Popper LLP is investigating potential derivative claims on behalf of shareholders of B. Riley, Inc. ("B. Riley") (NASDAQ:RILY) against members of B. Riley's senior management and its Board of Directors concerning B. Riley's relationship with Brian Kahn, Chief Executive Officer of Franchise Group, Inc. ("FRG"). A derivative action seeks to recover damages on behalf of a corporation, and is different than the pending securities fraud class action seeking to recover damages on behalf of investors during the class period May 10, 2023 through November 9, 2023, inclusive. Unlike the pending class action, which seeks to benefit only investors during the class period, a derivative action seeks to benefit all existing B. Riley shareholders.
In May 2023, B. Riley entered into an agreement to assist Brian Kahn in leading a management buyout of FRG. The deal was completed in August 2023. ...