LIVE VENTURES INC. CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the District of Nevada against Live Ventures Inc.

On August 3, 2021, the U.S. Securities and Exchange Commission (SEC) filed a complaint against Live Ventures, its Chief Executive Officer, and its Chief Financial Officer alleging "multiple financial, disclosure, and reporting violations related to inflated income and earnings per share, stock promotion and secret trading, and undisclosed executive compensation."

The SEC alleged that Live Ventures had recorded income from a backdated contract, which increased pre-tax income for fiscal 2016 by 20%, and understated its outstanding share count, which overstated earnings per share by 40%.

On this news, the Company's share price fell $29.08, or 46%, to close at $33.50 per share on August 4, 2021. The stock continued to decline, and fell another 23% over the next four consecutive trading sessions to close at $25.76 per share on August 10, 2021.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at  www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

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

View original content to download multimedia:https://www.prnewswire.com/news-releases/live-ventures-inc-class-action-alert-wolf-haldenstein-adler-freeman--herz-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-in-the-united-states-district-court-for-the-district-of-nevada-against-live-ventures--301369919.html

SOURCE Wolf Haldenstein Adler Freeman & Herz LLP