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B Riley Financial Inc

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"B. Riley Financial Faces Deadline Pressure Over Delayed 10-K Filing"

Originally Published 1 year ago — by Yahoo Finance

B. Riley Financial Inc. failed to file its audited results after the grace period ended, causing its stock to fall about 6%. The delay adds to pressure on the company, which has been under scrutiny for its relationship with Brian Kahn, the founder of Franchise Group Inc. The company attributed the delay to the board’s review of its transactions with Kahn, who was labeled as an unidentified co-conspirator in a US Department of Justice criminal case. B. Riley missed last year’s initial deadline too, citing recent acquisitions, but was able to finish the job within the grace period.

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

Originally Published 2 years ago — by Yahoo Finance

The US Securities and Exchange Commission is investigating B. Riley Financial Inc.'s dealings with a client linked to a securities fraud case and the use of his assets to secure a loan from Nomura Holdings Inc. The client, Brian Kahn, is an unidentified co-conspirator in a criminal case related to the 2020 collapse of the Prophecy Asset Management hedge fund. The probe has led to a decline in B. Riley's stock and raised concerns about its relationship with Kahn. Nomura, one of B. Riley's major lenders, is also involved in the investigation. B. Riley denies any wrongdoing and states that it would fully cooperate with the SEC's inquiry.

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