Nov 14, 2023
Dive into the world of holiday PR with our essential toolkit, showcasing top press release examples from Amazon to Starbucks.
LIVE LAWSUIT FILED: Jakubowitz Law Pursues Claims on Behalf of Live Ventures Incorporated Shareholders
August 24, 2021 5:29 AM EDT | Source: Jakubowitz Law
New York, New York--(Newsfile Corp. - August 24, 2021) - Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Live Ventures Incorporated (NASDAQ: LIVE).
CLICK HERE FOR MORE DETAILS:
Affected shareholders purchased shares of LIVE between December 28, 2016 and August 3, 2021
Shareholders interested in representing the class of wronged shareholders have until October 12, 2021 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Live Ventures Incorporated issued materially false and/or misleading statements and/or failed to disclose that: 1) Live's earnings per share for FY 2016 was actually only $6.33 per share; (2) the Company used an artificially low share count to boost the earnings per share by 40%; (3) Live had overstated pretax income for fiscal 2016 by 20% by including $915,500 of "other income" related to certain amendments that were not negotiated until after the close of the fiscal year; (4) Live's acquisition of ApplianceSmart did not close during first quarter 2017; (5) using December 30, 2017 as the "acquisition date" and recognizing income therefrom did not conform to generally accepted accounting principles; (6) by falsely stating that the acquisition closed during the quarter, Live recognized bargain purchase gain, which enabled the Company to report positive net income in what would otherwise have been an unprofitable quarter; (7) between fiscal 2016 and fiscal 2018, Live's CEO received approximately 94% more in compensation than was disclosed to investors; and (8) 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.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94199