Latest news with #AccountingStandardsCodification
Business Upturn
23-05-2025
- Business
- Business Upturn
BIGBEAR.AI HOLDINGS (NYSE: BBAI) CLASS ACTION DEADLINE APPROACHING: Berger Montague Advises Investors to Inquire About a Securities Fraud Class Action by June 10, 2025
PHILADELPHIA, May 23, 2025 (GLOBE NEWSWIRE) — Berger Montague PC advises investors that a securities class action lawsuit has been filed against Holdings, Inc. ('BigBear' or the 'Company') (NYSE: BBAI) on behalf of purchasers of BigBear securities between March 31, 2022 through March 25, 2025, inclusive (the 'Class Period'). Investor Deadline: Investors who purchased or acquired BigBear securities during the Class Period may, no later than JUNE 10, 2025 , seek to be appointed as a lead plaintiff representative of the class. To learn your rights, CLICK HERE . BigBear, headquartered in McLean, VA, is an AI-driven technology company offering national security, supply chain management, and digital identity and biometrics solutions. In June 2021, Holdings entered into a business combination with GigCapital4, Inc., a special purpose acquisition company. After the business combination was consummated on December 7, 2021, BigBear issued $200 million of convertible notes with a maturity date of December 15, 2026. The complaint alleges that, throughout the Class Period, Defendants failed to disclose that: (i) BigBear maintained deficient accounting review policies; (ii) the Company incorrectly determined that the conversion option within the 2026 Notes qualified for the derivative scope exception under Accounting Standards Codification ('ASC') 815-40 and failed to bifurcate the conversion option as required by ASC 815-15; (iii) thus, BigBear had improperly accounted for the 2026 Notes. On March 18, 2025, BigBear disclosed that certain financial statements since fiscal year 2021 should no longer be relied upon and would be restated, in particular with respect to the accounting treatment of the Company's 2026 Notes. On this news, BigBear's stock price fell $0.52 per share, or 14.9%, to close at $2.97 per share on March 18, 2025. Then, on March 25, 2025, BigBear filed its 2024 10-K, disclosing that a 'conversion option embedded within the 2026 Notes was incorrectly deemed to be eligible for a scope exception from the bifurcation requirements of ASC 815-15….' As a result, the Company's financial statements were restated. The Company further disclosed that it had identified a material weakness in its internal control over financial reporting – specifically, that BigBear had not 'consistently executed [its] technical accounting review policies' with respect to certain non-routine, unusual, or complex transactions.' On this news, BigBear's stock price fell $0.32 per share, or 9.11%, to close at $3.19 per share on March 26, 2025. To learn your rights or for more information, CLICK HERE or please contact Berger Montague: Andrew Abramowitz at [email protected] or (215) 875-3015, or Peter Hamner at [email protected] . A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member. Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States. Contact: Andrew Abramowitz, Senior CounselBerger Montague(215) 875-3015 [email protected]
Yahoo
13-05-2025
- Business
- Yahoo
FASB clarifies accounting acquirer guidance in business combinations
The US Financial Accounting Standards Board (FASB) has released an Accounting Standards Update (ASU) to enhance the requirements for identifying the accounting acquirer in FASB Accounting Standards Codification Topic 805, Business Combinations. The update is based on a recommendation from the Emerging Issues Task Force (EITF). It revises existing guidance for determining the accounting acquirer in transactions primarily involving the exchange of equity interests, where the legal acquiree is a variable interest entity meeting the definition of a business. The amendments require entities to apply the same factors used in other acquisition transactions to identify the accounting acquirer. FASB chair Richard Jones said: 'The new ASU is the first recommendation from the recently reconstituted EITF to be issued as a final standard, and we thank the group for providing a path forward in making financial reporting in this area more comparable and decision useful for investors.' Additionally, FASB is seeking public feedback on a proposed ASU that provides guidance on accounting for debt exchange transactions involving multiple creditors. The proposal, also recommended by the EITF, is open for stakeholder review and comment until 30 May 2025. Under current generally accepted accounting principles, entities must determine whether a modified or exchanged debt instrument should be treated as a modification of the existing obligation or as the issuance of a new one, with the old obligation extinguished. The proposed ASU clarifies that certain debt instrument exchanges should be recognised as the issuance of a new debt obligation and the extinguishment of the existing one. FASB believes this update will enhance the decision-usefulness of financial reporting by ensuring economically similar transactions are accounted for consistently. It also aims to reduce varied practices in accounting for such exchanges. "FASB clarifies accounting acquirer guidance in business combinations " was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Business Wire
05-05-2025
- Business
- Business Wire
Golub Capital BDC, Inc. Announces Fiscal Year 2025 Second Quarter Financial Results
NEW YORK--(BUSINESS WIRE)--Golub Capital BDC, Inc., a business development company (Nasdaq: GBDC), today announced its financial results for its second fiscal quarter ended March 31, 2025. Except where the context suggests otherwise, the terms 'we,' 'us,' 'our,' and 'Company' refer to Golub Capital BDC, Inc. and its consolidated subsidiaries. 'GC Advisors' refers to GC Advisors LLC, our investment adviser. 1 On September 16, 2019 and June 3, 2024, the Company completed its acquisition of Golub Capital Investment Corporation ('GCIC') and Golub Capital BDC 3, Inc. ('GBDC 3'), respectively. Each acquisition was accounted for under the asset acquisition method of accounting in accordance with Accounting Standards Codification 805-50, Business Combinations — Related Issues. Under asset acquisition accounting, where the consideration paid to GCIC and GBDC 3's stockholders exceeded the relative fair values of the assets acquired, the premium paid by the Company was allocated to the cost of the GCIC and GBDC 3 investments acquired by the Company pro-rata based on their relative fair value. Immediately following each acquisition, the Company recorded its assets at their respective fair values and, as a result, the purchase premium allocated to the cost basis of the assets acquired was immediately recognized as unrealized depreciation on the Company's Consolidated Statement of Operations. The purchase premium allocated to investments in loan securities acquired from GCIC and GBDC 3 will amortize over the life of the loans through interest income with a corresponding reversal of the unrealized depreciation on such loans acquired through their ultimate disposition. The purchase premium allocated to investments in equity securities will not amortize over the life of the equity securities through interest income and, assuming no subsequent change to the fair value of the GCIC and GBDC 3 equity securities acquired and disposition of such equity securities at fair value, the Company will recognize a realized loss with a corresponding reversal of the unrealized depreciation upon disposition of the GCIC and GBDC 3 equity securities acquired. As a supplement to U.S. generally accepted accounting principles ('GAAP') financial measures, the Company is providing the following non-GAAP financial measures that it believes are useful for the reasons described below: 'Adjusted Net Investment Income' and 'Adjusted Net Investment Income Per Share' – excludes the amortization of the purchase premium from net investment income calculated in accordance with GAAP. 'Adjusted Net Investment Income Before Accrual for Capital Gain Incentive Fee ' - Adjusted Net Investment Income excluding the accrual or reversal for the capital gain incentive fee required under GAAP; 'Adjusted Net Realized and Unrealized Gain/(Loss)' and 'Adjusted Net Realized and Unrealized Gain/(Loss) Per Share' – excludes the unrealized loss resulting from the purchase premium write-down and the corresponding reversal of the unrealized loss from the amortization of the premium from the determination of realized and unrealized gain/(loss) in accordance with GAAP. 'Adjusted Net Income/(Loss)' and 'Adjusted Earnings/(Loss) Per Share' – calculates net income and earnings per share based on Adjusted Net Investment Income and Adjusted Net Realized and Unrealized Gain/(Loss). The Company believes that excluding the financial impact of the purchase premium write down in the above non-GAAP financial measures is useful for investors as it is a non-cash expense/loss resulting from the acquisitions of GCIC and GBDC 3 and is one method the Company uses to measure its financial condition and results of operations. In addition, the Company believes excluding the accrual of the capital gain incentive fee under GAAP is useful as a portion of such accrual is not contractually payable under the terms of the Company's investment advisory agreement with GC Advisors. Expand Second Fiscal Quarter 2025 Highlights Net investment income per share for the quarter ended March 31, 2025 remained consistent at $0.37 compared to the quarter ended December 31, 2024. Excluding $0.02 per share in purchase premium amortization from the GCIC/GBDC 3 acquisitions, and no accrual or reversal for the capital gain incentive fee under GAAP, Adjusted Net Investment Income Per Share 1 for the quarters ended March 31, 2025 and December 31, 2024 was $0.39. Net realized and unrealized gain/(loss) per share for the quarter ended March 31, 2025 was $(0.07). Adjusted Net Realized and Unrealized Gain/(Loss) Per Share 1 was ($0.09) when excluding $0.02 per share net reversal of unrealized depreciation and realized loss resulting from the amortization of the purchase premium. The Adjusted Net Realized and Unrealized Gain/(Loss) Per Share 1 for the quarter ended March 31, 2025 was primarily due to (i) unrealized depreciation resulting from the underperformance of certain portfolio companies and (ii) net realized losses recognized on the restructuring of debt and equity investments of two portfolio companies that was partially offset by net realized and unrealized gains recognized on the translation of foreign currency transactions. For additional analysis, please refer to the Quarter Ended 03.31.2025 Earnings Presentation available on the Investor Resources link on the homepage of the Company's website ( under Events/Presentations. The Earnings Presentation was also filed with the Securities and Exchange Commission as an Exhibit to a Form 8-K. These results compare to net realized and unrealized gain/(loss) per share of $0.05 during the quarter ended December 31, 2024. Adjusted Net Realized and Unrealized Gain/(Loss) Per Share 1 for the quarter ended December 31, 2024 was $0.03 when excluding $0.02 per share net reversal of unrealized depreciation and realized loss resulting from the amortization of the purchase premium. Earnings per share for the quarter ended March 31, 2025 was $0.30 as compared to $0.42 for the quarter ended December 31, 2024. Adjusted Earnings Per Share 1 for the quarter ended March 31, 2025 was $0.30 as compared to $0.42 for the quarter ended December 31, 2024. Net asset value ('NAV') per share decreased to $15.04 at March 31, 2025 from $15.13 at December 31, 2024. On March 28, 2025 we paid a quarterly distribution of $0.39 per share. On May 2, 2025, our board of directors declared a quarterly distribution of $0.39 per share, which is payable on June 27, 2025, to stockholders of record as of June 13, 2025. Accretive capital management in response to market volatility through (i) issuance of 2.4 million shares of our common stock, at a premium to NAV, under our equity distribution agreement with net proceeds totaling approximately $38 million, after giving effect to sales agents' commissions and certain estimated offering expenses and (ii) during the period March 1, 2025 through May 5, 2025 we repurchased approximately 2.5 million shares of our common stock for an aggregate purchase price of approximately $35 million, at an aggregate price of $14.00 per share. During the three months ended March 31, 2025, the Golub Capital Employee Grant Program Rabbi Trust (the 'Trust') purchased approximately $13.0 million, or 832,821 shares, of our common stock for the purpose of awarding incentive compensation to employees of Golub Capital. During calendar year 2024, the Trust purchased approximately $10.1 million, or 670,760 shares, of our common stock. Portfolio and Investment Activities As of March 31, 2025, the Company had investments in 393 portfolio companies with a total fair value of $8,621.2 million. This compares to the Company's portfolio as of December 31, 2024, as of which date the Company had investments in 386 portfolio companies with a total fair value of $8,685.2 million. Investments in portfolio companies as of March 31, 2025 and December 31, 2024 consisted of the following: * Junior debt is comprised of second lien and subordinated debt. Expand The following table shows the asset mix of our new investment commitments for the three months ended March 31, 2025: Total investments in portfolio companies at fair value were $8,621.2 million at March 31, 2025. As of March 31, 2025, total assets were $8,949.9 million, net assets were $4,043.5 million and net asset value per share was $15.04. Consolidated Results of Operations For the second fiscal quarter of 2025, the Company reported GAAP net income of $79.0 million or $0.30 per share and Adjusted Net Income 2 of $79.0 million or $0.30 per share. GAAP net investment income was $98.7 million or $0.37 per share and Adjusted Net Investment Income 1 was $103.3 million or $0.39 per share. GAAP net realized and unrealized gain/(loss) was ($19.8) million or ($0.07) per share and Adjusted Realized and Unrealized Gain/(Loss) 1 was ($24.4) million or ($0.09) per share. Net income can vary substantially from period to period due to various factors, including the level of new investment commitments, the recognition of realized gains and losses and unrealized appreciation and depreciation. As a result, quarterly comparisons of net income may not be meaningful. Liquidity and Capital Resources The Company's liquidity and capital resources are derived from the Company's debt securitizations (also known as collateralized loan obligations, or CLOs), unsecured notes, revolving credit facilities and cash flow from operations. The Company's primary uses of funds from operations include investments in portfolio companies and payment of fees and other expenses that the Company incurs. The Company has used, and expects to continue to use, its debt securitizations, unsecured notes, revolving credit facilities, proceeds from its investment portfolio and proceeds from offerings of its securities and its dividend reinvestment plan to finance its investment objectives. As of March 31, 2025, we had cash, cash equivalents and foreign currencies of $116.9 million, restricted cash and cash equivalents and restricted foreign currencies of $129.5 million, which included $29.6 million of restricted cash retained for partial repayments on the notes of certain of our debt securitizations that are past their reinvestment period term, and $4,833.2 million of debt outstanding. As of March 31, 2025, subject to leverage and borrowing base restrictions, we had approximately $887.4 million of remaining availability, in the aggregate, on our revolving credit facility with JPMorgan. In addition, as of March 31, 2025, we had $200.0 million of remaining commitments and availability on our unsecured line of credit with GC Advisors. On April 4, 2025, we amended our revolving credit facility with JPMorgan to, among other things, (i) change the applicable margin to a range of 1.525% to 1.775%, (ii) reduce the unused fee rate on all unused commitments to 0.325% from 0.375%, (iii) extend the maturity date to April 4, 2030 from August 6, 2029 and (iv) amend the accordion provision to permit increases to the total commitments to up to $3.0 billion. The Company's GAAP leverage ratio decreased to 1.21x as of March 31, 2025 and our GAAP debt-to-equity ratio, net 3 decreased to 1.16x as of March 31, 2025 (1.17x, on average, throughout the quarter ended March 31, 2025). Portfolio and Asset Quality GC Advisors regularly assesses the risk profile of each of the Company's investments and rates each of them based on an internal system developed by Golub Capital and its affiliates. This system is not generally accepted in our industry or used by our competitors. It is based on the following categories, which we refer to as GC Advisors' internal performance ratings: Internal Performance Ratings Rating Definition 5 Involves the least amount of risk in our portfolio. The borrower is performing above expectations, and the trends and risk factors are generally favorable. 4 Involves an acceptable level of risk that is similar to the risk at the time of origination. The borrower is generally performing as expected, and the risk factors are neutral to favorable. 3 Involves a borrower performing below expectations and indicates that the loan's risk has increased somewhat since origination. The borrower could be out of compliance with debt covenants; however, loan payments are generally not past due. 2 Involves a borrower performing materially below expectations and indicates that the loan's risk has increased materially since origination. In addition to the borrower being generally out of compliance with debt covenants, loan payments could be past due (but generally not more than 180 days past due). 1 Involves a borrower performing substantially below expectations and indicates that the loan's risk has substantially increased since origination. Most or all of the debt covenants are out of compliance and payments are substantially delinquent. Loans rated 1 are not anticipated to be repaid in full and we will reduce the fair market value of the loan to the amount we anticipate will be recovered. Expand Our internal performance ratings do not constitute any rating of investments by a nationally recognized statistical rating organization or represent or reflect any third-party assessment of any of our investments. For additional analysis on the Company's internal performance ratings as of March 31, 2025, please refer to the Quarter Ended 03.31.2025 Earnings Presentation available on Investors Resources link on the homepage of the Company's website ( under Events/Presentations. The following table shows the distribution of the Company's investments on the 1 to 5 internal performance rating scale at fair value as of March 31, 2025 and December 31, 2024: March 31, 2025 December 31, 2024 Internal Investments Percentage of Investments Percentage of Performance at Fair Value Total at Fair Value Total Rating (In thousands) Investments (In thousands) Investments 5 $ 121,114 1.4 % $ 232,260 2.7 % 4 7,609,108 88.3 7,578,339 87.2 3 769,096 8.9 763,677 8.8 2 121,902 1.4 110,953 1.3 1 — — 2 0.0 * Total $ 8,621,220 100.0 % $ 8,685,231 100.0 % Expand * Represents an amount less than 0.1%. Expand Conference Call The Company will host an earnings conference call at 12:00 pm (Eastern Time) on Tuesday, May 6, 2025 to discuss the quarterly financial results. All interested parties may participate in the conference call by dialing (888) 596-4144 approximately 10-15 minutes prior to the call; international callers should dial (646) 968-2525. Participants should reference Golub Capital BDC, Inc. when prompted. For a slide presentation that we intend to refer to on the earnings conference call, please visit the Investor Resources link on the homepage of our website ( and click on the Quarter Ended 03.31.2025 Earnings Presentation under Events/Presentations. An archived replay of the call will be available shortly after the call until 11:59 p.m. (Eastern Time) on May 13, 2025. To hear the replay, please dial (800) 770-2030. International dialers, please dial +1 (609) 800-9909. For all replays, please reference program ID number 5111111. Golub Capital BDC, Inc. and Subsidiaries Consolidated Statements of Operations (In thousands, except share and per share data) Three months ended March 31, 2025 (unaudited) (unaudited) Investment income Interest income $ 208,895 $ 217,306 Acquisition purchase price premium amortization (4,592 ) (5,686 ) Dividend income 7,877 8,487 Fee income 1,712 593 Total investment income 213,892 220,700 Expenses Interest and other debt financing expenses 69,911 79,643 Base management fee 21,714 21,581 Incentive fee 18,247 18,058 Professional fees 1,765 1,840 Administrative service fee 3,185 2,902 General and administrative expenses 408 561 Total expenses 115,230 124,585 Net expenses 115,230 124,585 Net investment income before tax 98,662 96,115 Excise and Income tax — (475 ) Net investment income after tax 98,662 96,590 Net gain (loss) on investment transactions Net realized gain (loss) from: Investments (16,864 ) (25,356 ) Foreign currency transactions (174 ) (3,705 ) Forward currency contracts 5,997 1,206 Net realized gain (loss) in investment transactions (11,041 ) (27,855 ) Net change in unrealized appreciation (depreciation) from: Investments (4,715 ) 43,621 Translation of assets and liabilities in foreign currencies 11,427 (22,973 ) Forward currency contracts (15,495 ) 21,927 Net change in unrealized appreciation (depreciation) on investment transactions (8,783 ) 42,575 Net gain (loss) on investment transactions (19,824 ) 14,720 Net realized gain (loss) on extinguishment of debt — (48 ) (Provision) benefit for taxes on unrealized appreciation on investments 146 52 Net increase (decrease) in net assets resulting from operations $ 78,984 $ 111,314 Per Common Share Data Basic and diluted earnings per common share $ 0.30 $ 0.42 Dividends and distributions declared per common share $ 0.39 $ 0.48 Basic and diluted weighted average common shares outstanding 266,484,213 264,343,512 Expand ABOUT GOLUB CAPITAL BDC, INC. Golub Capital BDC, Inc. ('GBDC') is an externally-managed, non-diversified closed-end management investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. GBDC invests primarily in one stop and other senior secured loans to middle market companies that are often sponsored by private equity investors. GBDC's investment activities are managed by its investment adviser, GC Advisors LLC, an affiliate of the Golub Capital LLC group of companies ("Golub Capital"). ABOUT GOLUB CAPITAL Golub Capital is a market-leading, award-winning direct lender and experienced private credit manager. The firm specializes in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. Golub Capital's sponsor finance expertise also forms the foundation of its Broadly Syndicated Loan and Credit Opportunities investment programs. Golub Capital nurtures long-term, win-win partnerships that inspire repeat business from private equity sponsors and investors. As of January 1, 2025, Golub Capital had over 1,000 employees and over $75 billion of capital under management, a gross measure of invested capital including leverage. The firm has offices in North America, Europe and Asia. For more information, please visit FORWARD-LOOKING STATEMENTS This press release may contain 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those expressed or implied in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. Golub Capital BDC, Inc. undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release. Source: Golub Capital BDC, Inc.
Associated Press
05-05-2025
- Business
- Associated Press
TOP RANKED ROSEN LAW FIRM Encourages BigBear.ai Holdings, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action
NEW YORK, May 04, 2025 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Holdings, Inc. (NYSE: BBAI) between March 31, 2022 and March 25, 2025, both dates inclusive (the 'Class Period'), of the important June 10, 2025 lead plaintiff deadline. SO WHAT: If you purchased securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 10, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (1) maintained deficient accounting review policies related to the reporting and disclosure of certain non-routine, unusual, or complex transactions; (2) as a result, incorrectly determined that the conversion option within the 2026 Convertible Notes qualified for the derivative scope exception under Accounting Standards Codification ('ASC') 815-40 and failed to bifurcate the conversion option as required by ASC 815-15; (3) accordingly, had improperly accounted for the 2026 Convertible Notes; (4) the foregoing error caused to misstate various items in several of previously issued financial statements; (5) as a result, these financial statements were inaccurate and would likely need to be restated; (6) would require extra time and expense to correct the inaccurate financial statements, thereby increasing the risk that would be unable to timely file certain financial reports with the SEC; and (7) as a result, public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome. ______________________ Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected]
Associated Press
04-05-2025
- Business
- Associated Press
BBAI Investors Have Opportunity to Lead BigBear.ai Holdings, Inc. Securities Fraud Lawsuit
NEW YORK, May 4, 2025 /PRNewswire/ -- Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Holdings, Inc. (NYSE: BBAI) between March 31, 2022 and March 25, 2025, both dates inclusive (the 'Class Period'), of the important June 10, 2025 lead plaintiff deadline. So what: If you purchased securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. What to do next: To join the class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 10, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. Details of the case: According to the lawsuit, throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (1) maintained deficient accounting review policies related to the reporting and disclosure of certain non-routine, unusual, or complex transactions; (2) as a result, incorrectly determined that the conversion option within the 2026 Convertible Notes qualified for the derivative scope exception under Accounting Standards Codification ('ASC') 815-40 and failed to bifurcate the conversion option as required by ASC 815-15; (3) accordingly, had improperly accounted for the 2026 Convertible Notes; (4) the foregoing error caused to misstate various items in several of previously issued financial statements; (5) as a result, these financial statements were inaccurate and would likely need to be restated; (6) would require extra time and expense to correct the inaccurate financial statements, thereby increasing the risk that would be unable to timely file certain financial reports with the SEC; and (7) as a result, public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected] View original content to download multimedia: SOURCE The Rosen Law Firm, P.A.
