Reported 2 months ago
B. Riley Financial's stock has fallen to its lowest point in nearly eight years after the investment bank delayed filing its quarterly report, raising concerns over significant losses, particularly related to its investment in Franchise Group. The bank warned of a potential loss between $435 million to $475 million, drastically reducing its market value. This report marks the third delay this year, as B. Riley is under scrutiny from regulators and shareholders amid legal challenges involving its former CEO.
Source: YAHOO