NEW YORK - 
(NewMediaWire) - August 4, 2021 - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Live Ventures Incorporated (“Live Ventures” or the “Company”) (NASDAQ:LIVE).
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On August 3, 2021, the Securities and Exchange Commission (“SEC”) announced a complaint (the “SEC complaint”) against the Company and its CEO, Jon Isaac. The SEC complaint, among other things, alleges that Live Ventures recorded income from a backdated contract to boost the Company’s pre-tax income for fiscal year 2016 by 20%. The Company and CEO Isaac also allegedly overstated earnings per share by 40% by improperly understating the Company’s outstanding share count. Further, the SEC complaint alleges that in addition to disclosing falsified financial results, CEO Isaac hired a stock promoter to boost interest in Live Ventures. As alleged, the financial manipulation and stock promotion caused the Company’s share price to spike. Isaac allegedly profited by secretly selling Live Ventures shares in a nominee account that he controlled in the name of Kingston Diversified Holdings.
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