An investor, who purchased NASDAQ: RILY shares, filed a lawsuit against B. Riley Financial, Inc. over alleged violations of Federal Securities Laws.

Investors who purchased shares of B. Riley Financial, Inc. (NASDAQ: RILY) have certain options and for certain investors are short and strict deadlines running. Deadline: March 25, 2024. NASDAQ: RILY investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Los Angeles, CA based B. Riley Financial, Inc., through its subsidiaries, provides financial services to corporate, institutional, and high net worth clients in North America, Australia, and Europe.

On January 21, 2024, Bloomberg News released an article entitled "SEC Probes B. Riley Deals With Client Tied to Failed Fund". This article stated in pertinent part that "U.S. authorities are investigating B. Riley Financial's deals with a client who was linked to a securities fraud, and the use of his assets to help the investment bank obtain a loan from Nomura Holdings Inc., according to people familiar with the matter."

Shares of B. Riley Financial, Inc. (NASDAQ: RILY) declined from $60.72 per share in July 2023, to as low as $18.09 per share on January 22, 2024.

The plaintiff claims that between May 10, 2023 and November 9, 2023, the Defendants failed to disclose to investors that Brian Kahn had been credibly implicated in a conspiracy to defraud investors of millions of dollars, that, in spite of this involvement, B. Riley continued to finance the transaction enabling Kahn and others to take FRG private through complex arrangements, that the foregoing was reasonably likely to draw regulatory scrutiny to B. Riley, and 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.

Those who purchased shares of B. Riley Financial, Inc. (NASDAQ: RILY) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.