B. Riley Financial Faces Legal Action, NASDAQ Delisting Threat for 10-K Delay, New Deadline April 30

B. Riley Financial is currently facing significant scrutiny and potential legal actions due to its failure to file its annual 10-K report, 86 days past the fiscal year-end. The NASDAQ has threatened delisting of all 10 of B. Riley's securities if they fail to remediate by submitting a 10-K report, with a possible allowance of 60 days or less for filing a remediation plan. A class action lawsuit is in the works, with a plaintiff owning over 200,000 shares bought in the 40s identified as the likely lead plaintiff. Allegations of stock manipulation involving multiple parties, including Kennedy Capital and the Chairman of The Audit Committee, Randall Paulson, have been raised. These parties are accused of violating NASDAQ member rules and engaging in fraudulent activities, with Marcum LLP mentioned in relation to the audit. Moreover, B. Riley Financial has been described as under significant financial stress, with a broken financing model that struggles to support its debts, dividends, and guarantees. Amidst these challenges, B. Riley Financial has gained extra time from lenders to provide its audited 2023 financial statements, with financials reportedly done on 2/29 and a new deadline set for April 30.