Recent tweets have highlighted a series of allegations and concerns surrounding B. Riley Financial Inc. ($RILY) and its associated entities. Accusations include the manipulation of $RILY stock through the creation of fake Reddit accounts by employees of Kennedy Capital Management, a portfolio manager at $5B RIA Kennedy Capital being caught touting $RILY to retail investors, and the sale of all $RILY positions by Kennedy Capital Management in Q4 2023, presumably in response to issues with Kahn. Furthermore, there are claims of a "significant legal situation" for $RILY, including potential SEC scrutiny, "major legal problems" for Kennedy Capital Management, off-balance sheet risks, and the company's heavy reliance on Level 3 asset valuations, now constituting 70% of its investments. These developments have led to calls for legal and regulatory action against those involved, with some suggesting the situation could escalate "before Easter."
Here is the guilty party $RILY https://t.co/vVhrHH7Rqz https://t.co/wXmpsU3JUs
The employees of $RILY celebrating last weeks Short Squeeze.. @FriendlyBearSA @AureliusValue @unemon1 https://t.co/68a9YHA5Uv
$RILY … man … now 70% of RILEY investments is valued on LEVEL 3 ASSUMPTIONS!!! … up from 30% few years back! This tells me the assets side of the balance sheet is likely worse than a trash bin!! @WolfpackReports @FriendlyBearSA @AureliusValue https://t.co/tF0NrmL4Bm
Liquidity is a confidence game. $RILY has significant off balance sheet risk that cannot be assessed from their stand-alone financial statements. In many ways, $RILY owns risk in $Babcock with a $BW stock near ZERO $RILY is largest shareholder in Babcock and Wilcox, B. Riley…
$APLD $RILY crowd is amazing! Tracing @unemon1 of SEXISM only because I said … Kennedy’s capital guy (active on Twitter) WIFE per the public info I found was more housewife than board member material!? Oh wait, some time before joining $RILY $APLD CEO worker for Kennedy’s https://t.co/r2fIaCwJIm
Many of these "Fake Apes" who work for real firms have significant legal exposure.. Stay tuned @AureliusValue @FriendlyBearSA $RILY https://t.co/HYTmYHplhf
$RILY daily ⬇️ Remains bearish trend lower highs chop. Last week's 'short squeeze narrative' call buyers saw their premiums get absolutely obliterated by their lovers at this fraud outfit. Lets see what happens next #GFLTA https://t.co/B97K80fm5S
Has $RILY hired Debt or restructuring Advisors? @AureliusValue @FriendlyBearSA
PS. $lly crushed $PFE performance the past few years. The past “few days” it changed “actively”. And yes u can make cash flow actively. But $lly is now below the 8/21. If u sold when those broke. U can test the 50day and below.
$RILY $APLD ... this looks like a $APLD board members minute transcript in my eyes: Which one is Kennedy's capital guy's wife? https://t.co/nHYc0KVen7
$RILY $APLD if true: why would be a HF manager of a 5b fund be on reddit behaving like an ape pumping $RILY!? At best Investors should be concerned about his judgement @ worst: if the fund did not have the position, I'd be concerned about Front Running @FriendlyBearSA https://t.co/gEpkqULIeb
$RILY $APLD ... I am sure these stalking activities will be justified to investors as: "In depth / on the Field Due Diligence" ... I wonder how much they get paid for this kind of work: 2% of 5b AUM? https://t.co/biXr40ATq5
He has Major Legal Problems as does his Firm $Rily @unemon1 @AureliusValue @FriendlyBearSA https://t.co/LthZe0WNG7 https://t.co/etHzNTsQTz
Kennedy Capital Management sold all $RILY in 4Q23 based on 13Fs presumably in response to Kahn issues. Former reddit user "dixon_kunts" (nice name for ESG fund mgr) who is believed to be microcap PM Chris McDonald deleted his username after being called out. He claims he bought… https://t.co/ejBAFw0vDZ
$RILY CEO share's were pledged to Axos right? Someone can explain me the meaning of this Filing 02/06/2024 I just few days before $RILY failed to publish it's 10K! Just a routine filing? I always have a hard time believing in coincidences @AlderLaneEggs @FriendlyBearSA https://t.co/hOkphZJWxZ
$RILY $APLD the real mystery is ... how the hell did the Kennedy Capital Housewife end up on the $APLD board? So many incestuous dynamics at the $RILY complex! I believe $APLD CEO worked at Kennedy before joining/selling to $RILY @AlderLaneEggs @FriendlyBearSA @WolfpackReports https://t.co/sHpkTXMiSZ
Jimmy Baker Named President of B. Riley Securities.. Kennedy Capital Management and $RILY are essentially One.. @FriendlyBearSA @AureliusValue @unemon1 https://t.co/9j42mJAiEG
All I know is Kennedy Capital Management and their employees who are posting as "Apes" have SIGNIFICANT problems.. $RILY https://t.co/yiBJ0wiHrR
$RILYZ daily ⬇️ The baby vehicle of money destruction. @AlderLaneEggs @FriendlyBearSA @AureliusValue https://t.co/8qgoogtQZ2
$Rily is a massive Fraud where Insiders have gone on Reddit Boards to Squeeze the Stock.. We will see what Discovery looks like after this Blows to Bits.. @AureliusValue @FriendlyBearSA @SECGov . I would not want to be Christian.. https://t.co/OYvi6Ghsbt
$RILY ... after Prophecy what do you do? you both go buy a Private Jet? 03/18/2020 - RILBEL LLC - N751ED (RILEY) 03/05/2021 - FLUG AIR LLC - N361CA (KAHN) @AlderLaneEggs @WolfpackReports @FriendlyBearSA @AureliusValue
The @SECGov should look into him and his firm Kennedy Capital Management. Just stock manipulators @FriendlyBearSA @AureliusValue $RILY https://t.co/6ErLGeJowE
#KennedyCapitalManagement Do your investors know that you post under fictitious names on Reddit, in concert with others, to try and manipulate the price of stocks like $RILY and you still miserably underperform the market ? Perhaps if you paid more attention to your clients… https://t.co/WlNtQZzw8o
People are going to have a "Significant" legal situation on $RILY https://t.co/6YhbOhGHSf
Exactly - “the suits” have now been caught creating fake ape Reddit accounts to entice individuals to throw money into the $RILY abyss. Desperate effort to save this corrupt company run by Wall Street bankers who financed ponzi conspirator Kahn. @WSBChairman @wallsteetbets https://t.co/krO5D1982S
🚨 $RILY #FraudsFraud this 👇 https://t.co/RAxdDvbKk6
$RILY @AureliusValue @FriendlyBearSA @DonalGriffin1 @business Riley is regulated by SEC, FINRA and Nasdaq directly. The FDIC and certain state banking departments have some standing since B. Riley sweeps some of its 10k wealth clients customer deposits The audit committee…
Just a Heads up to Sullivan Cromwell and @MarcumLLP .. "The Cover Up is Worse than the Crime" and you will be held responsible.. $RILY @AureliusValue @FriendlyBearSA
This ends poorly for $rily and all its enablers.. Will be on this fight till the end, which IMHO happens before Easter https://t.co/vfHKtpU9PP
Case in point is a portfolio manager at $5B RIA Kennedy Capital who was caught yesterday touting $RILY to retail investors on Reddit by pretending to be an Ape. The stock manipulators astroturf the boards to entice retail into these scams. https://t.co/RFu2s0VCjI
S&C appeared in $RILY sec fraud lawsuit. S&C handled all $RILY dealings with Kahn, did the supposed "internal review", and now is defense counsel 😂. S&C isn't even pretending to be independent. Case study for this is Enron / Vinson & Elkins. Auditors cannot accept the review... https://t.co/4BM75NFtxj
$ELF.TO annual accounts out on Thursday. Stated equity value/share of C$1968 understates things IMHO. Two valuations - deconsolidated book value of Empire Life $UNC.TO etc then replace at market values adjusting for tax liability with Empire at C$2.35billion (BV $1.64bn) average…