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Live Investor Alert: Shareholder Class Action Lawsuit Filed

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Boston, Massachusetts--(Newsfile Corp. - September 9, 2021) - The Thornton Law Firm alerts investors who purchased Live Ventures Incorporated securities (NASDAQ: LIVE) between December 28, 2016 and August 3, 2021 may seek to participate in the case as a Lead Plaintiff. Interested investors may contact the Thornton Law Firm's investor protection team by visiting www.tenlaw.com/cases/LiveVentures for more information. Investors may also email investors@tenlaw.com or call 617-531-3917. A class action lawsuit has been filed on behalf of investors of LIVE. Investors do not need to be the Lead Plaintiff to recover as class members if the case is successful.

FOR MORE INFORMATION: www.tenlaw.com/cases/LiveVentures

The case alleges that Live Ventures and its senior executives made misleading statements to investors and failed to disclose that: (i) Live Ventures' earnings per share for fiscal year 2016 was actually only $6.33 per share; (ii) Live Ventures used an artificially low share count to boost the earnings per share by 40%; (iii) Live Ventures had overstated pre-tax income for fiscal year 2016 by 20% by including $915,500 of "other income" related to certain amendments that were not negotiated until after the close of the fiscal year; (iv) Live Ventures' acquisition of ApplianceSmart did not close during the first quarter of 2017; (v) using December 30, 2017 as the "acquisition date" and recognizing income therefrom did not conform to generally accepted accounting principles; (vi) by falsely stating that the acquisition closed during the quarter, Live Ventures recognized bargain purchase gain, which enabled Live Ventures to report positive net income in what would otherwise have been an unprofitable quarter; and (vii) between fiscal year 2016 and fiscal year 2018, Live Ventures' CEO received approximately 94% more in compensation than was disclosed to investors.

Interested Live Ventures investors have until October 12, 2021 to retain counsel and apply to be a lead plaintiff if they are interested to do so. A lead plaintiff acts on behalf of all other investor class members in managing the class action. Investors do not need to be a lead plaintiff in order to be a class member. If investors choose to take no action, they can remain an absent class member. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney. Thornton Law Firm is not currently representing a plaintiff who filed a complaint but is investigating the case on behalf of investors interested in being a lead plaintiff.

FOR MORE INFORMATION: www.tenlaw.com/cases/LiveVentures

Thornton Law Firm's securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

CONTACT:
Thornton Law Firm LLP
1 Lincoln Street
State Street Financial Center
Boston, MA 02111
www.tenlaw.com/cases/LiveVentures

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96040