B. Riley Financial Faces New Challenges with Struggling Texas Retailer

Posted on August 7th, 2024 at 9:57 AM
B. Riley Financial Faces New Challenges with Struggling Texas Retailer

From the desk of Jim Eccleston at Eccleston Law

B. Riley Financial Inc., a boutique investment bank, faces fresh turmoil due to its involvement with Conn’s Inc., a Texas-based home-furnishings chain on the brink of bankruptcy. This adds to B. Riley's existing woes, including a U.S. investigation into a former business partner, significant financial losses, and a declining stock price.

AdvisorHub reports that Conn’s teetering financial status threatens B. Riley, which stands potentially liable for about $148 million, nearly a third of its entire loan portfolio. This liability stems mainly from a loan B. Riley extended in December to aid Conn’s acquisition of troubled competitor W.S. Badcock.

According to AdvisorHub, B. Riley, led by founder Bryant Riley, downplays the risks. The firm expects full repayment of its reduced $93 million loan to Conn’s, according to a spokesperson.

B. Riley remains actively engaged with Conn’s and other stakeholders and feels secure about its position and investment protections.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next

You were most helpful with my FINRA deposition. You are a good lawyer and a good person.

Dan B.

LATEST NEWS AND ARTICLES

November 7, 2025
FINRA Suspends Former Wells Fargo Broker Over Unapproved Real Estate Venture

The Financial Industry Regulatory Authority (FINRA) suspended former Wells Fargo broker George J. Cairnes for four months and fined him $25,000 for engaging in unapproved real estate outside business activity, according to a settlement letter issued.

November 6, 2025
Former Ameriprise Broker Ordered to Pay $2.2 Million for Elder Exploitation

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Eric A. Dupre to pay nearly $2.2 million in damages to his former firm and two customers following allegations of theft and elder exploitation.

November 5, 2025
Former Wells Fargo Representative Suspended for Unauthorized Texting and Obstruction

The Financial Industry Regulatory Authority (FINRA) has suspended former Wells Fargo representative Eyan M. Townsend for one year and fined him $10,000 for using personal text messages to conduct business and attempting to obstruct an internal investigation by deleting those communications.