THE LAWSUIT: A class action securities lawsuit was filed against B. Riley Financial, Inc. (RILY) that seeks to recover losses of B. Riley shareholders who were adversely affected by alleged securities fraud between May 10, 2023 and November 9, 2023
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) Brian Kahn, a client of the Company, had been credibly implicated in a conspiracy to defraud investors of millions of dollars; (2) in spite of this involvement, B. Riley continued to finance the transaction enabling Kahn and others to take Franchise Group, Inc. private through complex arrangements; (3) the foregoing was reasonably likely to draw regulatory scrutiny to B. Riley; and (4) 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.
WHAT’S NEXT? If you suffered a loss in B. Riley stock during the relevant time frame – even if you still hold your shares – go to https://zlk.com/pslra-1/b-riley-lawsuit-submission-form?wire=18 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/
