B. Riley plunges after Franchise Group files for bankruptcy protection [Yahoo! Finance Canada]
B. Riley Financial, Inc. (RILY)
NASDAQ:AMEX Investor Relations:
ir.brileyfin.com/investor-relations
Company Research
Source: Yahoo! Finance Canada
It went private last year in a management-led buyout backed by B. Riley. The deal had attracted scrutiny from shareholders and regulators. B. Riley did not respond to a Reuters request for comment outside business hours. The bank had warned in August it could report a markdown of $330 million to $370 million in the second quarter related to the investment. At the time, the bank had said the write-down was driven by a "confluence of recent events", including the impact of a meaningfully weaker consumer spending environment on Franchise's businesses and its investments. In July, B. Riley and its CEO received subpoenas from the SEC, primarily related to the bank's dealings with Franchise's former CEO, Brian Kahn. Bloomberg News reported in November that Kahn was a co-conspirator in a securities fraud involving Prophecy Asset Management. Kahn has denied the allegations made in the report, saying he never knew Prophecy Asset was allegedly defrauding investors. An external in
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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