SHAREHOLDER ALERT: Law Firm Gross Notifies Shareholders of Live Ventures Incorporated of Class Action and Lead Plaintiff Deadline of October 12, 2021
New York, New York – (Newsfile Corp. – Aug 23, 2021) – Securities litigation law firm The Gross Law Firm issues the following notice on behalf of the shareholders of Direct Incorporated Businesses (NASDAQ: LIVE).
Shareholders who have purchased shares of LIVE during the stated reference period are encouraged to contact the company regarding a possible appointment of a lead applicant. Appointment as principal applicant is not necessary to participate in any recovery.
CONTACT US HERE:
COURSE PERIOD: December 28, 2016 to August 3, 2021
ALLEGATIONS: The complaint alleges that during the class action period, the Defendants made materially false and / or misleading statements and / or failed to disclose that: 1) Live’s earnings per share for fiscal 2016 were was actually 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 the 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 its income 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.
DEADLINE: October 12, 2021 Shareholders should soon register for this class action lawsuit. Register your information here: https://securitiesclasslaw.com/securities/live-ventures-incorporated-loss-submission-form/?id=18866&from=5
NEXT STEPS FOR SHAREHOLDERS: Once you have signed up as a shareholder who purchased shares of LIVE during the time period stated above, you will be signed up to portfolio monitoring software to provide you with status updates throughout the cycle. life of the case. The deadline to apply to be a lead applicant is October 12, 2021. There is no cost or obligation for you to participate in this matter.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered from deception, fraud and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The company seeks redress on behalf of investors who have suffered losses when false and / or misleading statements or the omission of important information by a company have caused the company’s stock to be artificially inflated. Lawyer advertising. Past results do not guarantee similar results.
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The company seeks redress on behalf of investors who have suffered losses when false and / or misleading statements or the omission of material information by a company lead to artificial inflation of the company’s shares. Lawyer advertising. Past results do not guarantee similar results.
The gross law firm
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94183