B. Riley Financial Denies Allegations

B. Riley Financial has fiercely denied any involvement in the alleged misconduct at Prophecy Asset Management, calling the claims baseless attempts to manipulate the company's stock price.

Internal Review Confirms Innocence

After nine months of an internal review conducted by outside counsel, B. Riley Financial stated that its relationship with Brian Kahn, the former CEO of Franchise Group with ties to Prophecy, showed no signs of involvement in any alleged misconduct.

The review confirmed that B. Riley and its executives, including Bryant Riley, had no knowledge or involvement in the accusations against Prophecy.

Debt Refutation and Stock Manipulation

Addressing rumors circulating about owing debt to Kahn over past Rent-A-Center litigation, B. Riley clarified that it does not owe, nor has ever owed, any debt related to Kahn. The company condemned the spreading of these rumors as an attempt to harm B. Riley Financial by manipulating its stock price.

B. Riley Financial criticized these actions as being beyond acceptable financial research practices and aimed at damaging the company without merit.

Response Leads to Shares Rising

In response to the allegations and rumors, B. Riley Financial released a statement denouncing the claims and their perpetrators. Following this response, shares of the company saw a 15% jump in premarket trading.

In excusable behavior and unwarranted claims, B. Riley Financial stands firm in its innocence.