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- Shares of B. Riley Financial (NASDAQ:RILY) on Friday fell nearly 8% in extended trading, after the company said it was still working with its auditors to complete and file its delayed annual report.
- The company on February 29 had filed a regulatory notification indicating that it would not be able to complete its annual report on time due to “delays experienced in finalizing” its financial statements.
- “The Company continues to work productively with its auditors in an effort to complete and file its Annual Report as soon as reasonably practicable,” B. Riley said on Friday in a regulatory filing.
- B. Riley (RILY) back in late February had said that an internal review by its board’s audit committee had determined that the boutique investment bank had acted properly in regard to the management-led buyout of Franchise Group.
- The company later on February 29 slashed its dividend by 50% and posted a wider loss in its Q4 2023.
