LAS VEGAS, April 14, 2016 /PRNewswire/ - Live Ventures
Incorporated (NASDAQ: LIVE) ("Live Ventures" or "the Company"), a
diversified holding company, today announced it has filed a lawsuit
in New York State Court against
Ameritrade, Inc., E*trade Securities, LLC and Charles Schwab & Co. Inc. seeking discovery
and further information regarding the trading activity in the
Company's stock.
The Company has become aware of a significant share imbalance
between the shares reported to be held in the Depository Trust and
Clearing Corporation (DTCC), which is the location broker dealers
report their holdings, and the shares reported to Broadridge
Financial Solutions to be held by the broker dealer's
customers. This share imbalance is substantial
and is indicative of improper and illegal trading activity in the
Company's stock. The Company is committed to
investigating and taking appropriate action to protect the Company
and its bona fide shareholders from such improper
activities.
"Live Ventures will be vigilant in preventing holders of
unauthorized or fictitious shares from voting or otherwise
affecting the rights of real shareholders," said Jon Isaac, CEO of Live Ventures. "All those
responsible will be vigorously pursued for all damages, which we
believe could amount to many millions of dollars."
About Live Ventures
Incorporated
Live Ventures Incorporated is a
diversified holding company with several wholly-owned subsidiaries
and a strategic focus on acquiring profitable companies that have
demonstrated a strong history of earnings power. Live Ventures
Incorporated provides, among other businesses, marketing solutions
that boost customer awareness and merchant visibility on the
Internet. We operate a deal engine, which is a service that
connects merchants and consumers via an innovative platform that
uses geo-location, enabling businesses to communicate real-time and
instant offers to nearby consumers. In addition, we maintain,
through our subsidiary, ModernEveryday, an online consumer products
retailer and, through our subsidiary, Marquis Industries, a
specialty, high-performance yarns manufacturer, hard-surfaces
re-seller, which is a top-10 high-end residential carpet
manufacturer in the United States. Marquis Industries, through
its A-O Division, utilizes its state-of-the-art yarn extrusion
capacity to market monofilament textured yarn products to the
artificial turf industry. Marquis is the only manufacturer in
the world that can produce certain types of yarn prized by the
industry.
For more information, please visit
www.live-ventures.com.
Forward-Looking and Cautionary Statements
This
press release may contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. In accordance with the safe harbor provisions
of this Act, statements contained herein that look forward in time
that include everything other than historical information, involve
risks and uncertainties that may affect the company's actual
results. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar
statements. LiveDeal, Inc. may also make written
or oral forward-looking statements in its periodic reports to the
U.S. Securities and Exchange Commission on Forms 10-K, 10-Q and
8-K, in its annual report to shareholders, in press releases and
other written materials and in oral statements made by its
officers, directors or employees to third parties. There can be no
assurance that such statements will prove to be accurate and there
are a number of important factors that could cause actual results
to differ materially from those expressed in any forward-looking
statements made by the company, including, but not limited
to, plans and objectives of management for future operations
or products, the market acceptance or future success of our
products, and our future financial performance. The
company cautions that these forward-looking statements are further
qualified by other factors including, but not limited to, those set
forth in the company's Form 10-K for the fiscal year ended
September 30, 2014, most recent Form
10-Q, and other filings with the U S. Securities and Exchange
Commission (available
at http://www.sec.gov). The company
undertakes no obligation to publicly update or revise any
statements in this release, whether as a result of new information,
future events, or otherwise.
Contact:
Live Ventures Incorporated
Tim Matula, investor relations
425-836-9035
press@live-ventures.com
http://live-ventures.com/pressroom
Source: Live Ventures Incorporated
SOURCE Live Ventures Incorporated