EQS-News: ROSEN, TOP RANKED GLOBAL COUNSEL, Encourages B. Riley Financial, Inc. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action - RILY

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about B. Riley’s business, operations, and prospects. Specifically, defendants failed to disclose to investors that: (1) Brian Kahn, Chief Executive Officer of Franchise Group, Inc. (“FRG”), had been credibly implicated in a conspiracy to defraud investors of millions of dollars; (2) in spite of this involvement, B. Riley continued to finance the transaction enabling Brian Kahn and others to take FRG private through complex arrangements; (3) the foregoing was reasonably likely to draw regulatory scrutiny to B. Riley; and (4) as a result of the foregoing, defendants’ positive statements about B. Riley’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.