SEC Drops All Claims Against Live Ventures After Nine-Year Fight
LIVE is trading near its 52-week low of $8.5 (10% above the low).
Summary
The SEC dismissed all claims against Live Ventures with no judgment, penalty, admission, or findings, ending a nine-year legal battle that began in 2017. CEO Jon Isaac separately agreed to a consent judgment with a $175,000 civil penalty while denying all allegations. This removes a major overhang for the company, which reported a net loss of $1.06 million in fiscal Q3. The dismissal clears the path for management to focus on its acquisition strategy without the distraction and cost of litigation.
At the time of this announcement, LIVE was trading at $9.38 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $29.2M. The 52-week trading range was $8.50 to $23.00. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.