INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Rafael Holdings, Inc. (RFL) on Behalf of Investors

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Rafael Holdings, Inc. (“Rafael” or the “Company”) (NYSE: RFL) investors concerning the Company’s possible violations of federal securities laws.

On February 28, 2022, Rafael disclosed that its previously issued financial statements for the quarter ended October 31, 2021 “should no longer be relied upon because the Company did not correctly allocate non-cash losses to its noncontrolling interests and incorrectly calculated the weighted average shares outstanding.” The Company also stated that there was a material weakness in its internal control over financial reporting.

On this news, Rafael’s stock fell $0.21, or 6.7%, to close at $2.94 per share on March 1, 2022.

If you purchased Rafael securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at [phone], toll-free at [phone], or by email to [e-mail], or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.