B. Riley Financial suspends dividend, warns of $435M-$475M Q2 losses, and faces SEC investigation.
B. Riley Financial Inc. suspends dividend and warns of new losses, citing a $370M markdown on its investment in Franchise Group Inc. The company expects Q2 losses between $435M-$475M. Shares plunged, leading to a trading halt, as the US SEC investigates potential inadequate disclosures of risks and dealings between B. Riley founder Bryant Riley and Brian Kahn.
August 12, 2024
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