B. Riley Board Issues Statement Regarding Internal Review; Audit Committee's Review Affirms Co. 'Acted Properly with Regard to the Management-Led Buyout of FRG' And Co. Says 'B. Riley Financial and its Executives Had No Involvement with, or Knowledge of, Alleged Prophecy Misconduct'
Portfolio Pulse from Benzinga Newsdesk
B. Riley Financial's board issued a statement following an internal review by the Audit Committee, affirming that the company acted properly in the management-led buyout of FRG. The statement also clarified that B. Riley Financial and its executives had no involvement with or knowledge of the alleged Prophecy misconduct.
February 22, 2024 | 12:36 pm
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POSITIVE IMPACT
B. Riley Financial's board has confirmed that the company acted appropriately in the management-led buyout of FRG and was not involved in any alleged Prophecy misconduct.
The statement from B. Riley Financial's board is likely to reassure investors and potentially improve the company's reputation and investor confidence, which could positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90