Recent Security Class Actions

B. Riley Financial Inc. Common Stock (NASDAQ: RILY)

Company Name:B. Riley Financial Inc. Common Stock
Stock Symbol:NASDAQ: RILY
Class Period Start:02/28/2022
Class Period End (inclusive):11/09/2023
Filing Deadline:03/25/2024

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, the Complaint alleges Defendants failed to disclose to investors: (1) that the CEO of FRG had been credibly implicated in a conspiracy to defraud investors of millions of dollars; (2) that, in spite of this involvement, B. Riley continued to finance the transaction enabling the CEO and others to take FRG private through complex arrangements; (3) that the foregoing was reasonably likely to draw regulatory scrutiny to B. Riley; and (4) that, 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.