Attention Long-Term B. Riley Financial, Inc. (RILY) Shareholders: Grabar Law Office Is Investigating Claims on Your Behalf

Philadelphia, Pennsylvania--(Newsfile Corp. - April 2, 2024) - Grabar Law Office is investigating whether certain officers and directors of B. Riley Financial Inc. (NASDAQ: RILY) breached the fiduciary duties they owed to the company. If you are a long-term investor in B. Riley, visit https://grabarlaw.com/the-latest/briley-shareholder-investigation/.

WHY?: A recently filed federal securities fraud class action complaint alleges that B. Riley Financial, Inc. (NASDAQ: RILY), through certain of its officers and directors, made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects including: (1) that the CEO of FRG had been credibly implicated in a conspiracy to defraud investors of millions of dollars; (2) that, in spite of this involvement, B. Riley continued to finance the transaction enabling the CEO and others to take FRG private through complex arrangements; (3) that the foregoing was reasonably likely to draw regulatory scrutiny to B. Riley; and (4) 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.

On March 22, 2024 B. Riley Financial, Inc. announced that it received a delinquency notification letter from Nasdaq on March 18, 2024 which indicated that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) as a result of the delayed filing of the Company's Annual Report on Form 10-K for the year ended December 31, 2023 ("Annual Report").

What to do: Current long-term B. Riley shareholders can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them. If you would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/briley-shareholder-investigation/, contact Joshua H. Grabar at jgrabar@grabarlaw.com or Mia R. Heller at mheller@grabarlaw.com, or call 267-507-6085. $RILY #BRILEY

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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/204006