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LIVE VENTURES INCORPORATED

(LIVE)
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Live Ventures Down 46% After SEC Charges

08/04/2021 | 10:05am EDT

By Michael Dabaie

Live Ventures Inc. shares were down 46%, to $33.61, in early trading Wednesday after the company said the U.S. Securities and Exchange Commission filed charges against the company.

The holding company said it denies the allegations and will defend itself in court.

The SEC said its complaint alleges that Live Ventures and its chief executive, Jon Isaac, recorded income from a backdated contract to boost Live Ventures' pre-tax income for fiscal year 2016 by 20%. SEC also alleged Live Ventures overstated earnings per share by 40% by improperly understating Live Ventures' outstanding share count.

SEC said the complaint also alleges the CEO hired a stock promoter to boost interest in Live Ventures.

"The company categorically denies all charges and will vigorously defend itself," Live Ventures said in a statement.

Live Ventures said it has enlisted the representation of John Hueston of the law firm Hueston Hennigan.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

08-04-21 1004ET

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Financials (USD)
Sales 2020 192 M - -
Net income 2020 10,9 M - -
Net Debt 2020 107 M - -
P/E ratio 2020 2,89x
Yield 2020 -
Capitalization 62,3 M 62,3 M -
EV / Sales 2019 0,38x
EV / Sales 2020 0,63x
Nbr of Employees 1 000
Free-Float 57,7%
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Managers and Directors
John Isaac President, Chief Executive Officer & Director
Virland A. Johnson Chief Financial Officer
Eric Althofer Chief Operating Officer & MD-Finance
Richard D. Butler Independent Director
Dennis Gao Independent Director
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