Reported 2 months ago
B. Riley Financial Inc. is struggling to properly value its assets as it contends with an SEC investigation over flawed accounting practices and a recent sharp drop in its share price. The Los Angeles-based investment firm delayed its quarterly report due to difficulties in assessing its loans and investments, while also reporting significant quarterly losses and announcing its dividend suspension. As the SEC probes the firm’s disclosures and potential trading irregularities involving its founder and partners, the company faces increasing scrutiny that could put its financial stability at risk.
Source: YAHOO