BBAI Investors Have the Opportunity to Lead the BigBear.ai Securities Fraud Lawsuit with Faruqi & Faruqi, LLP
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In BigBear.ai To Contact Him Directly To Discuss Their Options
If you suffered losses exceeding $50,000 in BigBear.ai between March 31, 2022 and March 25, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
[You may also click here for additional information]
New York, New York--(Newsfile Corp. - June 3, 2025) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against BigBear.ai Holdings, Inc. ('BigBear' or the 'Company') (NYSE: BBAI) and reminds investors of the June 10, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
[ This image cannot be displayed. Please visit the source: https://images.newsfilecorp.com/files/6455/254213_ff2ed547a425985b_001full.jpg ]
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) BigBear maintained deficient accounting review policies related to the reporting and disclosure of certain non-routine, unusual, or complex transactions; (2) as a result, the Company incorrectly determined that the conversion option within the 2026 Convertible Notes qualified for the derivative scope exception under ASC 815-40 and failed to bifurcate the conversion option as required by ASC 815-15; (3) accordingly, BigBear had improperly accounted for the 2026 Convertible Notes; (4) the foregoing error caused BigBear to misstate various items in several of the Company's previously issued financial statements; (5) as a result, these financial statements were inaccurate and would likely need to be restated; (6) BigBear would require extra time and expense to correct the inaccurate financial statements, thereby increasing the risk that the Company would be unable to timely file certain financial reports with the U.S. Securities and Exchange Commission ('SEC'); and (7) as a result, the Company's public statements were materially false and misleading at all relevant times.
On March 18, 2025, BigBear.ai delayed the filing of its 2024 10K, disclosing that certain of the Company's financial statements since fiscal year 2021 should no longer be relied upon and would be restated.
On this news, the price of BigBear.ai stock declined roughly 15%, from a closing price of $3.49 per share on March 17, 2025, to $2.97 per share on March 18, 2025.
Then, on March 25, 2025, after market, BigBear filed its 2024 10-K restating its consolidated financial statements 'to reflect the issuance of the 2026 Notes Conversion Option at fair value as of December 7, 2021 and the subsequent remeasurement to fair value at each reporting date.' The 2024 10-K also disclosed that the Company had identified a material weakness in its internal control over financial reporting.
On this news, the price of BigBear.ai stock declined roughly 9%, from a closing price of $3.51 per share on March 25, 2025, to $3.19 per share on March 26, 2025.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding BigBear's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the BigBear.ai class action, go to www.faruqilaw.com/BBAI or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
Follow us for updates on LinkedIn, on X, or on Facebook.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com ). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/254213
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Procter & Gamble plans to slash 7,000 non-manufacturing jobs over next 2 years
-- Procter & Gamble (NYSE:PG) plans to cut around 7,000 jobs, or roughly 15% of its global non-manufacturing workforce, over the next two years. The move is part of a broader organizational overhaul aimed at simplifying structures by forming smaller teams with expanded responsibilities. The company emphasized that the layoffs are not a cost-cutting measure. The consumer goods maker, known for brands like Tide, Pampers and Bounty, had about 108,000 employees as of last June. Executives announced the restructuring plans during a presentation in Paris, where they also signaled an intention to streamline the company's product portfolio. While specific details were not provided, the changes could involve exiting certain categories and shedding smaller brands in select markets. In April, P&G reported a decline in quarterly sales and lowered its full-year revenue outlook, citing global economic uncertainty and geopolitical instability. The company posted earnings per share (EPS) of $1.54 for the third quarter of fiscal 2025, slightly above the $1.53 that analysts expected. Revenue came in at $19.78 billion, falling short of the $20.11 billion forecast. It also said it was exploring ways to manage the impact of tariffs, including raising prices, reformulating products and tightening costs. Chief Financial Officer Andre Schulten said current tariffs are expected to reduce annual growth by $1 billion to $1.5 billion. To offset the impact, the company plans to rely on pricing, productivity, and innovation in the near term, while also exploring changes in product formulation and sourcing. With one quarter remaining in its fiscal year, P&G currently anticipates flat sales growth for fiscal 2025, a downgrade from its previous projection of 2% to 4%. It also lowered its core earnings outlook to a range of $6.72 to $6.82 per share, down from the earlier forecast of $6.91 to $7.05. Related articles Procter & Gamble plans to slash 7,000 non-manufacturing jobs over next 2 years Citigroup to cut 3,500 jobs at China tech centers BofA sees 62% surge in eVTOL adoption, fueling 'low-altitude' boom Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
Jim Cramer Says to 'Buy Dover (DOV) Right Now'
We recently published a list of . In this article, we are going to take a look at where Dover Corporation (NYSE:DOV) stands against other stocks that Jim Cramer discusses. Inquiring about Dover Corporation (NYSE:DOV), a caller asked if Cramer thinks that the stock will ever hit $222. He replied: 'I look wrong right now on Dover for the club… but I think I'm going to be right. Why? Because I think that Tobin is very smart, the CEO and the stock should never have been thrown back, 19 times earnings. It even went down when steel tariffs went on. I say enough is enough. Buy Dover right now, tomorrow morning.' A modern industrial equipment assembly line in motion. Dover (NYSE:DOV) produces items like pumps, flow meters, refrigeration systems, printing and coding equipment, vehicle lifts, winches, and fluid dispensing tools. Additionally, the company provides software and services used in fuel handling, industrial processing, climate control, and product traceability across various industries. During an episode of Squawk on the Street in April, Cramer commented: 'Okay so here's a good example of the craziness of this market. Dover reports. Dover did what RTX did the other day. They actually said okay listen the tariffs are hurting us. Okay, here's how they're hurting us. Stock was immediately down seven bucks. Down 7. And I was like I own it for my charitable trust and I'm like meumughmhgm . . .and then well people figured out, wait a second, they told the truth! Now the stock's up nice.' READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Jim Cramer Says 'Fluor (FLR)'s Always a Bridesmaid, Never a Bride'
We recently published a list of . In this article, we are going to take a look at where Fluor Corporation (NYSE:FLR) stands against other stocks that Jim Cramer discusses. Answering a caller's query about Fluor Corporation (NYSE:FLR) during the lightning round, Cramer remarked: 'Fluor's always a bridesmaid, never a bride. I mean, that engineering construction, but people have lost money more on Fluor than, I actually did a study for Harvard that owned Fluor. And I said, you gotta sell Fluor no matter what, and that was in 1982.' A close-up of an engineer surveying a large-scale construction project. Fluor (NYSE:FLR) is an engineering, construction, fabrication, and project management services company that provides services across industries, including energy, infrastructure, advanced manufacturing, and government programs, with expertise in both traditional and emerging low-carbon technologies. On May 15, Cramer said that he prefers other stocks instead of Fluor (NYSE:FLR), as he said: 'No, FLR. Engineering and construction, we're going to buy letter J, we'll buy Jacobs. Now I've gotta tell you, the best one happens to be private, which is Bechtel, but the next, we'll take J, that'll do it. AECOM is not bad either.' READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
