New York, New York--(Newsfile Corp. - September 28, 2021) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Live Ventures Incorporated (NASDAQ: LIVE) alleging that the Company violated federal securities laws.
Class Period: December 28, 2016 and August 3, 2021
Lead Plaintiff Deadline: October 12, 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 filed complaint 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 FY 2016 was actually only $6.33 per share; (2) the Company used an artificially low share count to boost the earnings per share by 40%; (3) Live had overstated pretax income for fiscal 2016 by 20% by including $915,500 of "other income" related to certain amendments that were not negotiated until after the close of the fiscal year; (4) Live's acquisition of ApplianceSmart did not close during first quarter 2017; (5) using December 30, 2017 as the "acquisition date" and recognizing income therefrom did not conform to generally accepted accounting principles; (6) by falsely stating that the acquisition closed during the quarter, Live recognized bargain purchase gain, which enabled the Company to report positive net income in what would otherwise have been an unprofitable quarter; (7) between fiscal 2016 and fiscal 2018, Live's CEO received approximately 94% more in compensation than was disclosed to investors; and (8) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Live Ventures you have until October 12, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Live Ventures securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97922