Jul 13, 07:01 PM

B. Riley Financial ($RILY) Faces Fraud Allegations, Shareholders Claim Shortchanged in 2023 Franchise Group Deal

B. Riley Financial ($RILY), a boutique investment bank, is facing serious allegations of fraud related to a 2023 take-private deal involving Franchise Group, one of its significant clients. Shareholders claim they were shortchanged in the deal, and the plaintiffs have completed extensive books and records discovery, including electronic communications, prior to filing the lawsuit. The allegations suggest that B. Riley's actions forced short sellers to cover at inflated prices. Additionally, Sullivan Cromwell and Marcum LLP are implicated in enabling the alleged fraud. The allegations are being made by a friend of Brian Kahn, who played football with him at Harvard.

#Franchise Group #Sullivan Cromwell #Marcum LLP #Brian Kahn #Harvard

Written with ChatGPT (GPT-4o).

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@annmlipton@esq.social@AnnMLipton
2 years ago
Here's an interesting new securities fraud complaint. It's brought by short sellers alleging the company lied about good news, which forced the shorts to cover at inflated prices: https://t.co/8sO9ImxXXW
Marc Cohodes@AlderLaneEggs
2 years ago
I am sure $RILY is the $$ behind this invention and Bryant and Kahn are their best customers https://t.co/6cDBz7O67r
HiddenPivots@HiddenPivots
2 years ago
A drunk Bryant spotted fist fighting himself in the mirror after hearing the claims of aiding and abetting Kahn in defrauding investors in the Prophecy fund. 🚨 $RILY @AlderLaneEggs 😉 https://t.co/j3Xc1SAx7I

B. Riley Financial ($RILY) Faces Fraud Allegations, Shareholders Claim Shortchanged in 2023 Franchise Group Deal

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