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B Riley

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finance2 years ago

"B. Riley and Nomura Under SEC Probe for Financial Dealings"

Investment bank B. Riley is reportedly under SEC investigation for its dealings with Brian Kahn, who is allegedly involved in a DOJ criminal case, while Nomura, a major Japanese financial group, is entangled in the probe due to its involvement in a lending syndicate for B. Riley. B. Riley has recently made significant investments in the bitcoin mining space, and Kahn, CEO of Franchise Group Inc., has been a longstanding client of the bank. The SEC probe is in its early stages, and Nomura, which backs several crypto-related entities, is not the primary focus of the investigation.

via CoinDesk|
#b-riley#bitcoin-mining#finance
finance2 years ago

"B. Riley Financial Under SEC Probe Over Client's Failed Hedge Fund Links"

The Securities and Exchange Commission is reportedly investigating B. Riley's dealings with a client linked to alleged securities fraud and the use of his assets to secure a loan from Nomura Holdings, causing B. Riley's shares to plummet 13% in premarket trading. The client, Brian Kahn, is an unidentified co-conspirator in a Justice Department criminal case related to the 2020 collapse of the Prophecy Asset Management hedge fund. The SEC's inquiries include evaluating Kahn's involvement in a buyout of Franchise Group Inc. arranged by B. Riley last year. B. Riley's shares have dropped 42% since November amid fraud allegations and connections to Kahn, and the firm was also the subject of short-seller reports.

via Seeking Alpha|
#b-riley#finance#investigation
business2 years ago

Bed Bath & Beyond's Stock Plummets After $300 Million Stock Offering and Disappointing Sales Results.

Bed Bath & Beyond has launched an at-the-market offering to sell up to $300 million worth of its common stock, which is more than triple the company's current market capitalization of $90.3 million. The troubled home goods retailer has also entered into a stock purchase agreement with B. Riley Principal Capital II to provide additional capital. The stock has plummeted 69.1% year to date and is headed for a ninth-straight close below the $1 mark.

via MarketWatch|
#b-riley#bed-bath-and-beyond#business