If you purchased shares of Live Ventures (LIVE) between December 28, 2016 and August 3, 2021 (class period), contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com. The deadline to apply to be lead plaintiff (class representative) is October 12, 2021.
Live Ventures is a US-based publicly-traded holding company that, with its subsidiaries, operates in the flooring manufacturing, retail, and steel manufacturing business.
Class Action Lawsuit Filed
On Friday, August 13, 2021 a class action lawsuit was filed against Live Ventures in federal court in Nevada. The lawsuit was filed on behalf of investors who have losses from owning shares of the company during the class period.
The class action complaint alleges that Live Ventures failed to disclose negative information about the company’s business and prospects.
Specific allegations included in the complaint are that the company’s earnings per share in fiscal year 2016 were less than reported, that the company used “an artificially low share count to boost the earnings per share by 40%”, and that the company overstated pre-tax income.
It is also alleged that the company’s acquisition of ApplianceSmart was reported incorrectly and did not conform with generally acceptable accounting practices, and that the company’s CEO received more compensation than was disclosed to investors.
On August 4, 2021 the Securities and Exchange Commission (SEC) filed charges against Live Ventures regarding the same allegations in the class action lawsuit. News of the SEC’s charges caused shares of the company’s stock to fall sharply and damaging investors.
Recover Live Ventures (LIVE) Investment Losses
Silver Law Group is a nationally-recognized law firm representing victims of securities and investment fraud. Our attorneys represent investors in class action lawsuits against issuers in state and federal court and investors in securities arbitration claims against Wall Street firms for stockbroker misconduct.
Scott Silver, Silver Law Group’s managing partner, is the chairman of the Securities and Financial Fraud Group of the American Association of Justice. Contact us for a consultation at ssilver@silverlaw.com or call (800) 975-4345.