NEW YORK, Aug. 27, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Live Ventures Incorporated ("Live Ventures" or the "Company") (NASDAQ: LIVE). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Live Ventures and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On August 3, 2021, the U.S. Securities and Exchange Commission ("SEC") announced that it had charged Live Ventures, along with its Chief Executive Officer and Chief Financial Officer, "with multiple financial, disclosure, and reporting violations related to inflated income and earnings per share, stock promotion and secret trading, and undisclosed executive compensation." Specifically, the SEC alleged that Live Ventures had recorded income from a backdated contract, which increased pre-tax income for fiscal 2016 by 20%, and understated its outstanding share count, which overstated earnings per share by 40%.
On this news, Live Ventures' stock price fell $30.20 per share, or 47.41%, to close at $33.50 per share on August 4, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP