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Mar 15, 2024 · B. Riley Financial Inc. and its top executives failed to tell investors that they knew, or were “recklessly unaware” of, Franchise Group Inc. ex-CEO Brian Kahn’s allegedly illicit business activities before helping him lead a management buyout of the company, according to a proposed shareholder class action.
- bmiller2@bloombergindustry.com
- Securities Litigation Correspondent
Feb 27, 2024 · US prosecutors deemed Kahn to be an unindicted co-conspirator in a $294 million fraud case stemming from Prophecy’s collapse, Bloomberg has reported. Prophecy co-founder John Hughes pleaded...
Aug 12, 2024 · Kahn stepped down after news reports linked him to Prophecy Asset Management, an investment firm that collapsed in March 2020 which prosecutors have alleged hid Kahn’s trading losses.
3 days ago · RILY. (Bloomberg) -- Bryant Riley, who built an underdog investment firm into a multibillion-dollar financial empire that bears his name, was defending his close friend and business partner, Brian ...
Brian Kahn, the head of Franchise Group, was named by Bloomberg as a possible co-conspirator in a $294 million fraud case in connection with a co-founder of Prophecy Asset Management. B. Riley...
Aug 12, 2024 · Prophecy investors who lost money have questioned in a lawsuit whether Kahn improperly used Prophecy proceeds to acquire control of FRG for himself. A co-founder of that fund pleaded guilty in November in a $294 million fraud case and is cooperating with prosecutors, who tagged Kahn as an unindicted co-conspirator, Bloomberg previously reported.
Jul 13, 2024 · Franchise Group shareholders accuse Kahn of using his Vintage Capital Management fund to help engineer the leveraged buyout and falsely portraying in securities disclosures that B. Riley...
