LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Live Ventures Incorporated (“Live Ventures” or “the Company”) (NASDAQ: LIVE) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The SEC filed a complaint against Live Ventures on August 3, 2021. The complaint, which also targets the Company’s CEO and CFO, alleges “multiple financial, disclosure, and reporting violations related to inflated income and earnings per share, stock promotion and secret trading, and undisclosed executive compensation.” The SEC alleges that the Company recorded income from a backdated contract to increase its fiscal 2016 pre-tax income by 20%. At the same time, the Company allegedly understated its outstanding share count, allegedly overstating earnings per share by 40%. Based on this news, shares of Live Ventures crashed by more than 47% on the next day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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