Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
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
I am sure $RILY is the $$ behind this invention and Bryant and Kahn are their best customers https://t.co/6cDBz7O67r
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), 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.