trending Market Intelligence /marketintelligence/en/news-insights/trending/-InJZQKW3PLfKQS8zMsAFQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

B. Riley Financial board member resigns

Cable Nets For Kids Enjoy Wide Carriage On Skinny Bundles

Fed Poised To Relax Key Rules For Large Banks

FOMC Minutes Give Few Clues On Next Rate Cut, Flag 'Clearer' Downside Risks

Report Feds Kashkari Calls For 50 Basis Point Rate Cut

B. Riley Financial board member resigns

Kenneth Young resigned from the board of

Young's resignation was not due to any disagreement with thecompany.

B. Riley appointed Todd Sims to serve as a board member untilthe company's 2017 annual stockholders meeting. Sims is senior vice presidentof digital strategy at Anschutz Entertainment Group Inc.

In addition, B. Riley disclosed the dismissal of certaincomplaints against the company related to its acquisition of

Three stockholders of United Online had filed complaints inthe Court of Chancery of Delaware against United Online, its board members andB. Riley alleging breaches of fiduciary duty. The complaints had alleged thatthe merger consideration B. Riley offered was unfair and inadequate.

The court dismissed the stockholder action with prejudice asto plaintiffs Morris Akerman, Daniel Pannucci and Jeweltex Manufacturing Inc.Retirement Plan, and without prejudice as to all other plaintiffs and anyabsent members of the putative class. The court retained jurisdiction solelyfor the purpose of determining the plaintiffs' anticipated application for an awardof attorneys' fees and reimbursement of expenses.

The plaintiffs' counsel in the stockholder actions intendsto petition the court for fees and reimbursement of expenses in connection withcertain standstill waivers and certain supplemental disclosures. Afternegotiations, B. Riley has agreed to pay fees and expenses of $275,000 within10 days of the entry of an order closing the case. This fee has not beenapproved or ruled upon by the court.