LIVE ALERT: Klein Law Firm Announces October 12, 2021 Lead Plaintiff deadline in class action lawsuit filed on behalf of Shareholders of Live Ventures Incorporated Limited | 2021-08-19 | Press Releases
New York, New York – (Newsfile Corp. – Aug. 19, 2021) – Klein law firm announces that a class action lawsuit has been filed on behalf of shareholders of Live Ventures Incorporated (NASDAQ: LIVE) alleging that the company has violated securities laws.
Class period: December 28, 2016 and August 3, 2021
Lead applicant’s deadline: 12 October 2021
No obligation or cost to you.
Learn more about your recoverable losses in LIVE:
Live Ventures Incorporated NEWS – LIVE NEWS
CLASS ACTION CASE DETAILS: The complaint filed alleges that Live Ventures Incorporated made materially false and / or misleading statements and / or failed to disclose that: 1) Live’s earnings per share for fiscal 2016 were in fact only 6.33 $ per share; (2) the Company used an artificially low number of shares to increase earnings per share by 40%; (3) Live had overstated pre-tax earnings for fiscal 2016 by 20% by including $ 915,500 of “other income” related to certain changes that were not negotiated until after the end of the fiscal year; (4) The acquisition of ApplianceSmart by Live was not finalized during the first quarter of 2017; (5) 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) By falsely stating that the acquisition was completed during the quarter, Live recognized a windfall purchase gain, which allowed the Company to report positive net income in what would otherwise have been a unprofitable quarter; (7) 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 of the foregoing, the Defendants’ positive statements regarding the business, operations and prospects of the Company were substantially misleading and / or lacked reasonable basis.
WHAT THIS MEANS FOR YOU AS A SHAREHOLDER: If you have suffered a loss in Live Ventures, you have up to 12 October 2021 apply to the court for principal applicant status. Your ability to participate in any recovery does not require you to serve as the principal applicant.
NO COT FOR YOU: If you purchased securities of Live Ventures during the relevant period, you may be entitled to compensation without payment of out-of-pocket expenses.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For more information on the LIVE trial, please contact J. Klein, Esq. by phone at 212-616-4899 or click on this link.
ABOUT THE KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigation involving financial fraud nationwide. Klein Law Firm is a litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced lawyers have achieved superior results for our clients with a personalized approach. Lawyer advertising. Past results do not guarantee similar results.
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
New York, New York 10118
Telephone: (212) 616-4899
Fax: (347) 558-9665
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/93825