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Press release content from Business Wire. The AP news staff was not involved in its creation.
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Press release content from Business Wire. The AP news staff was not involved in its creation.

SHAREHOLDER ACTION REMINDER: The Schall Law Firm Reminds Investors of a Class Action Lawsuit Against Live Ventures Incorporated and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

August 17, 2021 GMT

LOS ANGELES--(BUSINESS WIRE)--Aug 17, 2021--

The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Live Ventures Incorporated (“Live Ventures” or “the Company”) (NASDAQ: LIVE ) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

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Investors who purchased the Company’s securities between December 28, 2016 and August 3, 2021, inclusive (the ″Class Period″), are encouraged to contact the firm before October 12, 2021.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

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According to the Complaint, the Company made false and misleading statements to the market. Live Ventures used an artificially low share count to boost its earnings per share for fiscal year 2016 by 40%. In fact, the Company’s earnings for 2016 were just $6.33 per share. The same year, the Company overstated pre-tax income including $915,500 in “other income.” The Company’s acquisition of ApplianceSmart did not close in Q1 2017, and using an acquisition date of December 30, 2017 did not follow GAAP. Between fiscal year 2016 and 2018, the Company’s CEO received compensation that was 94% higher than what was disclosed to investors. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Live Ventures, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210817005809/en/

CONTACT: The Schall Law Firm

Brian Schall, Esq.

www.schallfirm.com

Office: 310-301-3335

info@schallfirm.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: The Schall Law Firm

Copyright Business Wire 2021.

PUB: 08/17/2021 01:47 PM/DISC: 08/17/2021 01:47 PM

http://www.businesswire.com/news/home/20210817005809/en