B. Riley is facing a class action lawsuit alleging that the Company made materially false and/or misleading statements and/or failed to disclose 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.
If you incurred a loss on RILY common stock purchased between May 10, 2023 and November 9, 2023, this lawsuit is on your behalf. The lawsuit was filed in the United States District Court for the Central District of California, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until March 25, 2024 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.
Enter the following information for this class action case- the deadline is approaching.