Reported 27 days ago
Bryant Riley, co-CEO of B. Riley Financial, reported inaccuracies in the number of shares he pledged to secure a loan from Axos Bank, initially claiming 4.3 million shares, later revised to over 5.8 million without required company approval. This misreporting has led to questionable proxy statements and raised concerns among investors given the firm’s plummeting stock price, ongoing debt issues, and SEC investigations. The disclosures have further harmed B. Riley’s credibility, complicating Riley's attempt to take the company private amidst significant financial scrutiny.
Source: YAHOO