Deadline Live: Bronst – GuruFocus.com
Lawyer Advertising – Bronstein, Gewirtz & Grossman, LLC informs investors that a class action lawsuit has been filed against Live Ventures Incorporated (“Live Ventures” or the “Company”) (NASDAQ: LIVE) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired shares of Live Ventures between December 28, 2016 and August 3, 2021 inclusive (the “Recourse Period”). These investors are encouraged to join this business by visiting the company’s website: www.bgandg.com% 2Flive
This class action lawsuit seeks to recover damages against the defendants for alleged violations of federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, the Defendants made false and / or misleading statements and / or failed to disclose: (1) that Live’s earnings per share for fiscal 2016 were actually only $ 6.33 per share; (2) that the Company used an artificially low number of shares to increase earnings per share by 40%; (3) that Live overstated fiscal 2016 pre-tax earnings by 20% by including $ 915,500 of “other income” related to certain changes that were not negotiated until after fiscal year-end; (4) that the acquisition of ApplianceSmart by Live was not finalized during the first quarter of 2017; (5) that the use of December 30, 2017 as the “acquisition date” and the recognition of the income resulting from it did not comply with generally accepted accounting principles; (6) that by falsely stating that the acquisition was completed during the quarter, Live recognized a beneficial purchase gain, which allowed the Company to report a positive net profit over what would otherwise have been been an unprofitable quarter; (7) that between fiscal 2016 and fiscal 2018, the CEO of Live received approximately 94% more in compensation than was disclosed to investors; and (8) as a result, the Defendants’ statements regarding its business, operations and prospects were materially false and misleading and / or lacked reasonable basis at all material times.
A class action has already been filed. If you would like to review a copy of the complaint, you can visit the firm’s website: www.bgandg.com% 2Flive or you can contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you have suffered a loss in Live Venturesyou have until October 12, 2021 to ask the Tribunal to appoint you as the principal applicant. Your ability to participate in any recovery does not require you to serve as the principal applicant.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our main expertise is the aggressive pursuit of contentious claims on behalf of our clients. In addition to representing institutions and other plaintiff investors in security class actions, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Lawyer advertising. Past results do not guarantee similar results.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211005005001/en/