RILY - Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against B. Riley Financial Inc. (RILY) | Benzinga
LOS ANGELES, Jan. 31, 2024 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP ("GPM") reminds investors of the upcoming March 25, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired B. Riley Financial, Inc. ("B. Riley" or the "Company") (NASDAQ:RILY) common stock between May 10, 2023 and November 9, 2023, inclusive (the "Class Period").
If you suffered a loss on your B. Riley investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/B-Riley-Financial-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.
In May 2023, B. Riley entered into an agreement to assist its client, Brian Kahn, in leading a management buyout of Franchise Group, Inc. ("FRG"). Kahn is CEO of FRG. The $2.8 billion deal was completed on August 21, 2023.
On November 2, 2023, Kahn was implicated as the unnamed coconspirator in a conspiracy to defraud investors of $294 million in funds. Specifically, the Department of Justice announced that Prophecy Asset Management ("Prophecy") president John Hughes ("Hughes") had pled guilty to the charge with two unnamed co-defendants, and the SEC filed a complaint against Hughes for the same misconduct. Bloomberg reported on that same day that Kahn had been identified by "a person familiar with the ...
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