B. Riley Financial Faces Multiple Class Actions and SEC Investigation

Investors are urged to submit losses amid allegations of securities fraud and undisclosed financial arrangements.

Overview

B. Riley Financial, Inc. is under scrutiny for its involvement in a $2.8 billion take-private transaction of Franchise Group.
Securities fraud class action complaints allege that B. Riley misrepresented and failed to disclose critical information to investors.
The SEC is investigating B. Riley's relationship with Franchise Group's former CEO, Brian Kahn, who is implicated in a conspiracy to defraud investors.
B. Riley's shares have plummeted by 53% since the allegations first surfaced in November.
Investors have until March 25, 2024, to join the class action lawsuits and potentially recover losses.