B. Riley Files Overdue Report in Step Toward Staying Listed
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Riley Financial Inc. said it filed its overdue second-quarter report with US regulators, bringing the firm closer to satisfying demands from Nasdaq that will keep the stock from being delisted. The shares gained more than 20% in extended trading.The 10-Q report to the US Securities and Exchange Commission, which arrived ahead of a Dec. 23 Nasdaq deadline, showed B. Riley swinging to a profit during the quarter from a loss a year earlier, according to a statement from the Los Angeles-based company. The third-quarter report is still overdue, and Chairman Bryant Riley said his firm is “well positioned” to meet Nasdaq’s Jan. 20 deadline for those missing figures.