An investigation on behalf of current long term investors in Live Ventures Incorporated (NASDAQ:LIVE) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 12/17/2021 -- An investigation was announced on behalf of current long-term investors in shares of Live Ventures Incorporated (NASDAQ: LIVE).
Investors who are current long term investors in Live Ventures Incorporated (NASDAQ: LIVE) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: LIVE stocks follows a lawsuit filed against Live Ventures Incorporated over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: LIVE stocks, concerns whether certain Live Ventures Incorporated directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that, the Defendants failed to disclose to investors: (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; and (8) as a result, Defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.
Those who purchased shares of Live Ventures Incorporated (NASDAQ: LIVE) have certain options and should contact the Shareholders Foundation.
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