B. Riley Requests to Dismiss Class Action Filed by Investors

Court: C.D. California

Case: 2:24-cv-00662

B. Riley has requested the court to dismiss the lawsuit filed by investors. The court will determine whether the case proceeds.

What is this lawsuit about?

In May 2023, B. Riley agreed to help Brian Kahn lead a $2.8B management buyout of FRG. However, in November 2023, Kahn was implicated as a co-conspirator in a $294M fraud scheme. B. Riley was later accused of withholding information about Kahn’s involvement in the fraud conspiracy.

Following this, RILY dropped by 22%.

Then, on January 24, 2024, shareholders filed a claim against B. Riley Financial.

What can you do to recover your losses now?

We’re keeping track of all updates and will notify RILY investors about potential recovery.

More than 600 companies are currently facing securities class action lawsuits, and over 100 are already paying settlements.

Connect your brokerage account to automatically check which ones you may have missed.