RILY - B. Riley (RILY) Shares Plunge Amid Write Offs and Credit Downgrades of Franchise Group- Hagens Berman | Benzinga

SAN FRANCISCO, Nov. 17, 2023 (GLOBE NEWSWIRE) -- Hagens Berman urges B. Riley Financial, Inc. (NASDAQ:RILY) investors who suffered substantial losses to submit your losses now.

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

The investigation focuses on the accuracy of B. Riley's statements concerning Franchise Group ("FRG").

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, which was completed on Aug. 21, 2023.

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 ...

RILY) Shares Plunge Amid Write Offs and Credit Downgrades of Franchise Group- Hagens Berman>Full story available on Benzinga.com