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B. Riley FBR drops research coverage of 70 mostly larger-cap companies

Investment bank B. Riley FBR Inc. dropped research coverage of 70 predominately larger-cap companies as part of a decision to refocus its research platform towards small and mid-cap issuers.

CEO Andy Moore in a statement called the move a return to the company's "roots" that is "strategically intended to concentrate our resources on the product that has been the basis of our success for more than two decades, and positions the firm to capitalize on unprecedented opportunities in the small and mid-cap space."

B. Riley Financial Inc. acquired investment bank and brokerage firm FBR & Co. in 2017.