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B Riley Financial's acquisition of FBR & Co. has come under scrutiny as CEO Brian Kahn is reportedly at the center of a $300 million fraud investigation by the DOJ. The company was shopped to 19 potential buyers with no bids except from RILY. Concerns have been raised about RILY's entanglements with Kahn and the promotion of APLD, a RILY stock. Wolfpack Research and other critics have been vocal about these issues.
NEW. For years $RILY has been lending to Brian Kahn (in what we believe are undisclosed transactions) and buying assets from him at inflated values. We think the company needs to immediately open an internal investigation into its entanglements with Kahn https://t.co/Ed2v7BUu8B
Who in their right mind would own / finance $APLD - a $RILY stock promote operated by a B Riley officer with a B Riley controlled board. $APLD CEO like Kahn is HF Mgr playing CEO. And $RILY wealth clients are stuffed in the worthless stock @AlderLaneEggs https://t.co/S6UuN8J86V
$RILY is finished and simply a disgrace of a company... I cant stand Dan David aka Wolfpack Research, he is an Obese piece of Crap, but his research on $Rily has been excellent and he deserves a lot of credit here as does @FriendlyBearSA and @AureliusValue
An $MFG.AX thread. IMHO financial media coverage of this company is overly sensationalist & always fails to get to grips with key aspects of the listed company. I wrote a piece at the start of the year suggesting MFG was worth between ~$9.50 - $11.00 at end 2022. Lets re-examine
1/ $RILY's purchase of $FRG turned out to be an even bigger fuck up than it seemed bc Brian Kahn (CEO of $FRG) seems to be the center of a DOJ investigation into a $300m fraud. Jeffries shopped $FRG around to 19 other potential buyers and got 0 bids. Only $RILY was interested. https://t.co/x1zM2KOZxr