Bryant Riley Misreported Shares He Pledged to Back Axos Loan [Yahoo! Finance Canada]
B. Riley Financial, Inc. (RILY)
NASDAQ:AMEX Investor Relations:
ir.brileyfin.com/investor-relations
Company Research
Source: Yahoo! Finance Canada
Most Read from Bloomberg Riley previously reported in company filings that he pledged 4,389,553 shares to support a loan with approval of the company under its insider trading policy, according to a B. Riley regulatory filing Wednesday. The shares provide collateral for a $45 million revolving credit line set up in March 2019, according to a separate filing. “Riley later pledged additional shares for which he did not receive approval under that policy,” the company said, bringing his total to 5,804,124 shares. This resulted in several inaccurate proxy statements and annual reports, with some dating as far back as 2020, the company said. The disclosure comes while B. Riley Financial is selling assets to raise cash to cut its own debt load, and while the investment firm remains long overdue on filing its financial results for the second quarter. The Securities and Exchange Commission has been investigating some aspects of the company's business, with subpoenas issued to Riley and
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RILY
News
- B. Riley Securities Announces Energy Convergence Conference on December 4th [Yahoo! Finance]Yahoo! Finance
- B. Riley Securities Announces Energy Convergence Conference on December 4thPR Newswire
- Going Public as PE Backed Company: NYSE Head of Financial Sponsor Coverage Tad Nacheff, Live from NYSE [Yahoo! Finance]Yahoo! Finance
- Vitamin Shoppe Owner Franchise Group Inc. Files For Chapter 11 [Forbes]Forbes
- B. Riley-backed Vitamin Shoppe owner files for bankruptcy [Yahoo! Finance]Yahoo! Finance
RILY
Sec Filings
- 11/4/24 - Form 8-K
- 10/31/24 - Form 8-K
- 10/30/24 - Form 8-K
- RILY's page on the SEC website