RILY - B. Riley (RILY) Shares Fall After Short Seller Questions Company's Ties to FRG Executive Linked to Criminal Investigation - Hagens Berman | Benzinga

SAN FRANCISCO, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges B. Riley Financial, Inc. (NASDAQ:RILY) investors who suffered substantial losses to submit your losses now.

Visit: www.hbsslaw.com/investor-fraud/RILY
Contact An Attorney Now: RILY@hbsslaw.com
                                               844-916-0895

B. Riley Financial, Inc. (NASDAQ:RILY) Investigation:

"We are investigating the accuracy of B. Riley's statements concerning Franchise Group ("FRG") and knowledge of Brian Kahn's alleged activities," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation.

On Aug. 28, 2023, B. Riley announced it invested $216.5 million in an equity financing to facilitate the $2.8 billion management-led acquisition of FRG, a formerly public company controlled by Brian Kahn.

Questions about B. Riley's FRG investment began to arise on Nov. 2, 2023, when the DOJ announced that co-founder of hedge fund Prophecy Asset Management John Hughes had pled guilty to conspiring to defraud dozens of victim investors out of $294 million. Bloomberg later reported that FRG's CEO Brian Kahn is one of two co-conspirators and Reuters reported that Hughes named Kahn as a co-conspirator.

In the aftermath, ...

RILY) Shares Fall After Short Seller Questions Company's Ties to FRG Executive Linked to Criminal Investigation - Hagens Berman>Full story available on Benzinga.com