Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises B. Riley Financial, Inc. (“B. Riley” or the “Company”) (NASDAQ: RILY) investors that a lawsuit was filed on behalf of investors that purchased B. Riley securities between May 10, 2023 through November 9, 2023, inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
In May 2023, B. Riley supported Brian Kahn in a $2.8 billion management buyout of Franchise Group, Inc., partially financed by Nomura. On November 2, 2023, John Hughes of Prophecy Asset Management was charged with defrauding investors, with Kahn implicated as a co-conspirator on November 3rd. This led to a 21.70% drop in B. Riley shares to $32.54 on November 6th.
On November 9, 2023, B. Riley disclosed complex transactions involving Kahn and subsidiaries in the FRG buyout. The Friendly Bear reported suspicions of manipulation and control by B. Riley, causing B. Riley shares to fall by 14.87% to $25.60 on November 10th, and further to $21.01 on November 13th.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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