SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Live Ventures Incorporated of a Class Action Lawsuit and a Lead Plaintiff Deadline of October 12, 2021 - (LIVE)
New York, New York--(Newsfile Corp. - October 12, 2021) - The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders of Live Ventures Incorporated (NASDAQ: LIVE).
Shareholders who purchased shares of LIVE during the class period listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
CONTACT US HERE:
CLASS PERIOD : December 28, 2016 to August 3, 2021
ALLEGATIONS : The complaint alleges that during the class period, Defendants 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.
DEADLINE: October 12, 2021 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/live-ventures-incorporated-loss-submission-form/?id=20330&from=5
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of LIVE during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is October 12, 2021. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Phone: (212) 537-9430
Fax: (833) 862-7770
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/99315