According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- Brian Kahn, Chief Executive Officer of Franchise Group, Inc. (“FRG”), had been credibly implicated in a conspiracy to defraud investors of millions of dollars;
- in spite of this involvement, B. Riley continued to finance the transaction enabling Brian Kahn and others to take FRG private through complex arrangements;
- the foregoing was reasonably likely to draw regulatory scrutiny to B. Riley; and
- 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.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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