B. Riley Financial, Inc. (NASDAQ:RILY)
NEW YORK, NY, USA, August 16, 2024 /EINPresswire.com/ — National investment loss and securities lawyers KlaymanToskes announces an important notice to investors who suffered significant losses in investments issued by B. Riley Financial, Inc. (NASDAQ: RILY). The law firm urges customers of brokerage firms and financial advisors who suffered investment losses in excess of $100,000 in B. Riley investments to contact the firm immediately at 888-997-9956. Investors with self-directed accounts who did not rely on the advice of a financial advisor are not eligible for our representation.
KlaymanToskes is investigating brokerage firms that recommended investments in B. Riley Financial, Inc. and its related securities. The law firm is investigating the following investment offerings:
– NASDAQ: RILY
– NASDAQ: RILYP
– NASDAQ: RILYL
– NASDAQ: RILYM (Senior Notes due 2025)
– NASDAQ: RILYG (5% Senior Notes due 2026)
– NASDAQ: RILYK (5.5% Senior Notes due 2026)
– NASDAQ: RILYN (6.5% Senior Notes due 2026)
– NASDAQ: RILYZ (5.25% Senior Notes due 2028)
– NASDAQ: RILYT (6% Senior Notes due 2028)
Our investigation has led the law firm to believe that investment firms and their financial advisors may have failed to act in the best interest of their customers, and misrepresented the risk-factors related to investments in B. Riley, in addition to failing to conduct due diligence on B. Riley’s investment offerings, leading to unsuitable recommendations.
On August 12, 2024, B. Riley Financial, Inc. issued a press release regarding estimated financial information for the quarter ended June 30, 2024. The company reported that it expects a net loss for the quarter ended June 30, 2024, in the range of $435 to $475 million, or $14 to $15 per diluted loss per share. Following this news, B. Riley’s stock (NASDAQ: RILY) dropped by 52%, closing at $8.54. On August 15, 2024, shares of RILY closed at $5.04 per share.
Financial advisors and their firms may be held liable for any losses incurred by their customers in the event of failure to act in the best interest of the customer, unsuitable investment recommendations, misrepresentations or omissions of material facts, and/or an overconcentration of the customer’s portfolio in one particular investment, class, or market sector. Further, financial professionals and their firms cannot disregard a customer’s risk-tolerance when making investment recommendations.
Depending on your circumstances, you may be entitled to recover your losses through FINRA arbitration, which may result in a greater and additional recovery to solely participating and waiting for any recovery in a class action lawsuit.
Investors who suffered losses in excess of $100,000 should contact attorney Steven D. Toskes at 888-997-9956 or email investigations@klaymantoskes.com for a free, confidential consultation.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
investigations@klaymantoskes.com