Class Action Filed Against BigBear.ai Holdings, Inc. (BBAI) Seeking Recovery for Investors - Contact Levi & Korsinsky
1. BigBear.ai faces a class action lawsuit over alleged securities fraud.
2. The lawsuit claims false accounting practices and financial statement inaccuracies.
3. Recovery of losses for affected investors is sought through the lawsuit.
4. Additional time and costs may be required to correct financial errors.
5. Investors have until June 10, 2025, to potentially join the lawsuit.
Class action suits can damage investor confidence and lead to stock decline, as seen in similar cases like Tesla's lawsuit in 2018, which negatively impacted their stock price until resolutions were found.
How important is it?
Legal issues like a class action suit tend to directly influence stock prices due to investor sentiment and fear of financial restatements.
Why Long Term?
The long duration of the lawsuit could affect BBAI's reputation and market position for years, similar to how reputation concerns haunted companies like Groupon post-lawsuits.
Levi & Korsinsky, LLP notifies investors in BigBear.ai Holdings, Inc. ("BigBear.ai Holdings" or the "Company") (NYSE: BBAI) of a class action securities lawsuit.
CLASS DEFINITION:
The lawsuit seeks to recover losses on behalf of BigBear.ai Holdings investors who were adversely affected by alleged securities fraud between March 31, 2022 and March 25, 2025. Follow the link below to get more information and be contacted by a member of our team:
BBAI investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
CASE DETAILS:
The filed complaint alleges that defendants made false statements and/or concealed that: (i) BigBear maintained deficient accounting review policies related to the reporting and disclosure of certain non-routine, unusual, or complex transactions; (ii) 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; (iii) accordingly, BigBear had improperly accounted for the 2026 Convertible Notes; (iv) the foregoing error caused BigBear to misstate various items in several of the Company's previously issued financial statements; (v) as a result, these financial statements were inaccurate and would likely need to be restated; (vi) 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 SEC; and (vii) as a result, the Company's public statements were materially false and misleading at all relevant times.
WHAT'S NEXT?
If you suffered a loss in BigBear.ai Holdings during the relevant time frame, you have until June 10, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU:
If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY:
Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004 [email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171 www.zlk.com
