LOS ANGELES, August 04, 2021--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Live Ventures Incorporated ("Live Ventures" or the "Company") (NASDAQ: LIVE) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On August 3, 2021, the U.S. Securities and Exchange Commission ("SEC") filed a complaint against Live Ventures, its Chief Executive Officer, and its Chief Financial Officer alleging "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, the Company’s share price fell as much as 22% during afterhours trading on August 3, 2021, thereby injuring investors.
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If you purchased Live Ventures securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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