RILY - B. Riley (RILY) Faces Securities Class Action After Reports of SEC Investigation Into Ties With Client Allegedly Linked To Securities Fraud - Hagens Berman | Benzinga

SAN FRANCISCO, Jan. 26, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges B. Riley Financial, Inc. (NASDAQ:RILY) investors who suffered substantial losses to submit your losses now.

Class Period: May 10, 2023 – Nov. 9, 2022
Lead Plaintiff Deadline: Mar. 25, 2024
Visit: www.hbsslaw.com/investor-fraud/RILY
Contact An Attorney Now: RILY@hbsslaw.com
                                               844-916-0895

B. Riley Financial, Inc. (NASDAQ:RILY) Securities Fraud Class Action:

The litigation focuses on B. Riley's assistance to its client, Brian Kahn, the then-CEO of Franchise Group, Inc. ("FRG"), in the $2.8 billion management-led buyout of FRG. The deal closed on Aug. 21, 2023 and B. Riley reportedly invested $216.5 million in an equity financing to facilitate it.

The complaint alleges B. Riley misrepresented and failed to disclose to investors: (1) that Brian Kahn had been credibly implicated in a conspiracy to defraud investors of millions of dollars; (2) that, despite this involvement, B. Riley continued to finance the transaction enabling Kahn and others to take FRG private through complex arrangements; and (3) the foregoing was reasonably likely ...

RILY) Faces Securities Class Action After Reports of SEC Investigation Into Ties With Client Allegedly Linked To Securities Fraud - Hagens Berman>Full story available on Benzinga.com