LOS ANGELES – B. Riley Financial Inc. (NASDAQ: NASDAQ:RILY) announced today that it will not meet the regulatory deadline to file its Quarterly Report on Form 10-Q for the period ending March 31, 2024.
The investment firm, which was due to file the report by May 10, 2024, has stated that the delay is largely due to the significant amount of time and resources allocated to finalizing its Annual Report on Form 10-K for the year ended December 31, 2023. That report was submitted on April 24, 2024.
The company has communicated its commitment to working diligently to complete the Quarterly Report and anticipates it will be able to file by May 15, 2024. This information is based on a press release statement.
B. Riley Financial specializes in providing collaborative financial services and solutions tailored to fit the capital raising and business advisory needs of its clients and partners. The delay in filing may attract attention from investors and regulatory bodies, as timely filings are a standard compliance measure for publicly traded companies.
The firm did not disclose any specific details regarding the contents of the Quarterly Report or the potential financial results for the first quarter. Investors and stakeholders typically look to quarterly earnings reports as indicators of a company's performance and financial health.
The announcement comes during a time when regulatory bodies are maintaining a close watch on corporate disclosures and compliance with filing deadlines. B. Riley's acknowledgment of the delay in the 8K filing serves as a formal notice to the Securities and Exchange Commission (SEC) and the market, providing transparency on its reporting timeline.
As the market awaits the delayed report, B. Riley's stock performance may reflect investor reaction to this news. The company's adherence to the new expected filing date of May 15, 2024, will be closely monitored.
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