Connect with us
Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.


B. RILEY INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of B. Riley Financial, Inc. – RILY

Global banking and finance news 28

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (KSF), announces that KSF has commenced an investigation into B. Riley Financial, Inc. (NasdaqGM: RILY).

In 2018, the Company was engaged by Vintage Capital Management, LLC (Vintage) to provide financing for its acquisition of Rent-A-Center, Inc. (RAC), also guaranteeing a $126.5 million termination fee for the transaction. Per the terms of the Merger Agreement, if the transactions End Date (December 17, 2018) passed without an extension being requested, RAC was vested with the option of terminating the Agreement, thereby potentially rendering Vintage and B. Riley liable for the reverse termination fee. The End Date passed without notice of an extension being provided, resulting in RAC terminating the agreement and demanding payment of the termination fee.

Recently, the Delaware Chancery Court presiding over the subsequent litigation ruled that RACs termination of the merger was valid, noting that Vintage and B. Riley personnel, in the context of this $1 billion-plus merger, simply forgot to give such notice [of extension], while reserving judgment on the Companys liability for the termination fee, which it noted was enormous compared to typical fees.

KSFs investigation is focusing on whether B. Rileys officers and/or directors breached their fiduciary duties to B. Rileys shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of B. Riley shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (, or visit to learn more.

About Kahn Swick & Foti, LLC

KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.

To learn more about KSF, you may visit

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner


Recent Post

Global Banking & Finance Review® is a leading financial portal and Print Magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management. Copyright © 2010-2021 GBAF Publications Ltd - All Rights Reserved.