B. Riley Financial, Inc. (NASDAQ: RILY) has recently received a delinquency notification letter from NASDAQ, indicating non-compliance with NASDAQ listing rule 5250(c)(1) due to the delayed filing of the company’s annual report on Form 10-K for the year ended December 31, 2023.
The company's dedication of time and resources to the review of its transactions with Brian Kahn by the audit committee of the board of directors, with the assistance of outside counsel, resulted in the delay of filing the annual report. However, the board of directors affirmed that the company and its executives, including Bryant Riley, had no involvement with, or knowledge of, any alleged misconduct concerning Brian Kahn and Prophecy Asset Management LP.
As of now, B. Riley Financial is a diversified financial services platform that delivers tailored solutions to meet the strategic, operational, and capital needs of its clients and partners. It provides end-to-end financial services across investment banking, institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance, due diligence, forensic accounting, litigation support, appraisal and valuation, auction, and liquidation services.
For the full picture, make sure to review B. Riley Financial's 8-K report.
