B. Riley (RILY) Shares Fall After Short Seller Questions Company’s Ties to FRG Executive Linked to Criminal Investigation - Hagens Berman
SAN FRANCISCO, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges B. Riley Financial, Inc. (NASDAQ: RILY) investors who suffered substantial losses to submit your losses now .
- SAN FRANCISCO, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges B. Riley Financial, Inc. (NASDAQ: RILY) investors who suffered substantial losses to submit your losses now .
- “We are investigating the accuracy of B. Riley’s statements concerning Franchise Group (“FRG”) and knowledge of Brian Kahn’s alleged activities,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.
- On Aug. 28, 2023, B. Riley announced it invested $216.5 million in an equity financing to facilitate the $2.8 billion management-led acquisition of FRG, a formerly public company controlled by Brian Kahn.
- In the aftermath, B. Riley has marked down the value of its investment in FRG.