Shareholder rights law firm Johnson Fistel, LLP, investigates potential violations of federal and state laws by certain officers of B. Riley Financial, Inc. (NASDAQ: RILY).
If warranted our firm is prepared to commence a derivative lawsuit on behalf of shareholders who have made a long-term investment in the company. A derivative lawsuit is aimed at holding accountable the directors and officers, not the corporations themselves, for any potential violations. Our focus is particularly on shareholders who have acquired and retained their stocks within specific time frames.
Recently a class action was filed against the company. The Complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (i) Defendants knew or were reckless in not knowing that Kahn and/or one or more of his controlled entities were engaged in illicit business activities; (ii) Kahn had been credibly implicated in a conspiracy to defraud investors of millions of dollars; (iii) in spite of all the foregoing, B. Riley continued to finance the transaction enabling Kahn and others to take FRG private through complex arrangements; (iv) the foregoing was reasonably likely to draw regulatory scrutiny to B. Riley; and (v) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you are a current, long-term shareholder of B. Riley, you can click or copy and paste the link below in a browser to join this action:
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
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Contact:
Johnson Fistel, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com