B. Riley Financial's internal review by Sullivan & Cromwell LLP found no involvement or knowledge in Prophecy Asset Management misconduct, involving former CEO Brian Kahn.

B. Riley Financial's board confirmed an internal review found no involvement or knowledge of alleged Prophecy Asset Management misconduct. The review, conducted by Sullivan & Cromwell LLP, investigated the dealings of former CEO Brian Kahn, who was named as a co-conspirator in a securities fraud case involving Prophecy Asset Management. B. Riley's shares rose by 12% after the announcement.

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