SAN DIEGO, Nov. 02, 2021 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in shares of Live Ventures Incorporated (NASDAQ: LIVE).
Investors, who purchased shares of Live Ventures Incorporated (NASDAQ: LIVE) in December 2018 or earlier and continue to hold any of those NASDAQ: LIVE shares, have also certain options. Please contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On August 13, 2021, a lawsuit was filed against Live Ventures Incorporated (“Live”). The plaintiff alleged that the defendants failed to disclose: (1) that Live’s earnings per share for FY 2016 was actually only $6.33 per share; (2) that the Company used an artificially low share count to boost the earnings per share by 40%; (3) that Live had overstated pre-tax 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) that Live’s acquisition of ApplianceSmart did not close during first quarter 2017; (5) that using December 30, 2017 as the “acquisition date” and recognizing income therefrom did not conform to generally accepted accounting principles; (6) that, 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) that between fiscal 2016 and fiscal 2018, Live’s CEO received approximately 94% more in compensation than was disclosed to investors.
Those who purchased NASDAQ: LIVE shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
