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$RILY, a company under scrutiny, is facing allegations of spreading Material Non-Public Information (MNPI) through private phone calls. Mike Frank, a key figure, is accused of sharing MNPI with investors, prompting calls for transparency and equal access. Questions arise regarding auditor disagreements and potential restatements, with concerns raised about regulatory violations. The Chairman of the Audit Committee, Randy Paulson, is also under scrutiny for his actions. The company's handling of the situation and the involvement of regulatory bodies like FINRA and the SEC are being questioned.
Hard to understand how @finra and @SECGov allows this to go on.. @DonalGriffin1 @business $RILY https://t.co/EqKWzx83jv
BR said he would not comment on the Audit in a recorded and widely broadcast call. But they're apparently taking phone calls from any interested caller now, and admitting in NY meetings that the Audit Partner was benched. 🤔 $RILY https://t.co/VUyJOhehIm https://t.co/iRmghHChqE
$RILY I asked for the same thing. They said they’ll get back to me on that’s Would I share info and risk consequences if I was an insider getting mipi? https://t.co/cInHDROjxq