The Schall Law Firm, a renowned national shareholder rights litigation firm, is reminding investors about an ongoing class action lawsuit against B. Riley Financial, Inc. (“B. Riley” or “the Company”) (NASDAQ: RILY). The lawsuit alleges violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased B. Riley’s securities between May 10, 2023, and November 9, 2023, inclusive (the “Class Period”), are encouraged to contact the firm before March 25, 2024. The Schall Law Firm, led by Brian Schall, is dedicated to discussing investors’ rights free of charge and can be reached via phone or email.
The lawsuit claims that B. Riley made false and misleading statements to the market during the Class Period. Brian Kahn, a client of B. Riley, was allegedly involved in a scheme to defraud investors of millions of dollars. Despite this revelation, the Company continued its relationship with Kahn, even financing his deal to take Franchise Group, Inc. (“FRG”) private. As a result, the Company was likely to face regulatory scrutiny due to its association with Kahn. These actions led to allegations that B. Riley’s public statements were false and materially misleading throughout the Class Period, causing financial harm to investors.
The Schall Law Firm, known for its expertise in securities class action lawsuits and shareholder rights litigation, is representing investors worldwide. The firm encourages affected shareholders to join the case to potentially recover their losses.
It is important to note that the class in this case has not yet been certified, and until certification occurs, investors are not represented by an attorney. However, shareholders who choose not to take action can still remain as absent class members.
The Schall Law Firm’s commitment to protecting investor rights and seeking justice in the financial markets is evident in its representation of clients in this class action lawsuit. The firm operates with the highest ethical standards and adheres to applicable laws and rules of ethics.
For more information about the ongoing class action lawsuit against B. Riley Financial, Inc., interested parties can visit the Schall Law Firm’s website or contact the firm directly.
Source: The Schall Law Firm
