B. Riley Financial: Audit Risk May Have Potential Rewards
RILYB. Riley Financial(RILY) Seeking Alpha·2024-03-29 14:43

kyoshino/E+ via Getty Images Thesis: Normally, I don't go anywhere near any company that has fraud allegations or any difficulty filing their required financial disclosures. B. Riley (NASDAQ:RILY) has both. On March 15th, RILY missed the 15-day grace period to file its 10-K. While this delay is concerning, there are some mitigating issues that should be pointed out. Plus, I believe the company has a reasonable explanation for the delay, and the filing should be coming soon. RILY's core business, BRS, B. Ril ...