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- B. Riley Financial (NASDAQ:RILY) received notification that indicated the company isn’t in compliance with a Nasdaq listing rule due to the delay of its 10-Q financial statement filing, the company said on Friday.
- The company has 60 calendar days to address how it plans to regain compliance. If its plan is accepted, Nasdaq can grant an exception for up to 180 calendar days from the filing’s due date, or until Feb. 10, 2025, to regain compliance.
- B. Riley (RILY) announced preliminary financial results for the quarter ended June 30, 2024, on Aug. 12. The company said it’s working to file the quarterly report as promptly as practical.
- Last week, the company suspended its dividend and plans to take a $433M-$475M charge for losses from its investment in Franchise Group and a related receivable. The Securities and Exchange Commission is investigating whether B. Riley (RILY) properly disclosed risks associated with some of its assets.
