B. Riley Financial Issues Statement In Response To A Bloomberg News Article Published On January 21, 2024
Portfolio Pulse from Benzinga Newsdesk
B. Riley Financial has responded to a Bloomberg News article regarding rumors of an SEC investigation, which the firm attributes to baseless allegations by short sellers. B. Riley denies any knowledge of an SEC investigation and states it would cooperate fully if one were to occur. The firm also reiterated its lack of involvement in the previously mentioned Prophecy investigation.
January 22, 2024 | 6:06 am
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NEUTRAL IMPACT
B. Riley Financial has publicly denied any knowledge of an SEC investigation and has attributed the rumors to short sellers. The firm has stated its willingness to cooperate with any potential investigation and has distanced itself from the Prophecy investigation.
The denial of any SEC investigation by B. Riley Financial could reassure investors and stabilize the stock price in the short term. However, the mention of short sellers and the potential for an investigation could keep some uncertainty in the market. The firm's statement of cooperation and lack of involvement in the Prophecy investigation may mitigate negative impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100