Why B. Riley Financial Shares Are Plunging Today
RILYB. Riley Financial(RILY) The Motley Fool·2024-08-12 23:39

The company suspended its dividend and is reportedly the subject of a federal probe. Riley Financial (RILY -56.93%) said it expects to post a massive loss in its most recent quarter and suspended its dividend. The investment firm is also reportedly in the crosshairs of U.S. government investigators.On Monday morning, shareholders stampeded for the exits. Shares of B. Riley traded down 46% as of 10:30 Eastern.Losses and investigationsRiley prereleased second-quarter results, and the numbers are not pretty. T ...