According to an August 12, 2024 Bloomberg report by David Voreacos, B. Riley Financial Inc. is struggling to value its assets after months of concern about flawed accounting and a federal investigation culminated in a 52% one-day plunge.
According to the Bloomberg report, the investment firm said it couldn’t file its quarterly report with regulators on time, promising only that it would file “as promptly as practical.” The delay, it said, was due to problems in valuing its loans and investments.
Read the full Bloomberg report: B. Riley Struggles to Value Its Assets as SEC Steps Up Scrutiny