Core Viewpoint - A class action lawsuit has been filed against BigBear.ai Holdings, Inc. for failing to disclose significant accounting errors that may require restating financial statements from fiscal year 2021 onward [1][2][3]. Group 1: Allegations and Financial Misstatements - The lawsuit alleges that BigBear maintained deficient accounting review policies, leading to incorrect accounting treatment of the 2026 Convertible Notes [2]. - It is claimed that BigBear failed to bifurcate the conversion option of the 2026 Convertible Notes as required, resulting in misstatements in previously issued financial statements [2]. - On March 18, 2025, BigBear disclosed that certain financial statements should no longer be relied upon and would be restated, causing a significant drop in stock price by 14.9% to $2.97 per share [3]. Group 2: Class Action Participation - Shareholders wishing to serve as lead plaintiffs must file their papers by June 10, 2025, but participation is not required to be eligible for recovery [4]. - The representation in the class action is on a contingency fee basis, meaning shareholders will not incur fees or expenses [5].

Core Viewpoint - A securities class action lawsuit has been filed against BigBear.ai Holdings, Inc. for alleged accounting deficiencies and misrepresentation of financial information during the Class Period from March 31, 2022, to March 25, 2025 [1][4]. Company Overview - BigBear.ai Holdings, Inc. is an AI-driven technology company based in McLean, VA, specializing in national security, supply chain management, and digital identity and biometrics solutions [3]. - The company underwent a business combination with GigCapital4, Inc., a special purpose acquisition company, which was completed on December 7, 2021, and subsequently issued $200 million in convertible notes maturing on December 15, 2026 [3]. Legal Allegations - The lawsuit claims that BigBear failed to disclose several critical issues, including: - Deficient accounting review policies [4]. - Incorrect determination regarding the conversion option of the 2026 Notes, which did not meet the criteria for the derivative scope exception under Accounting Standards Codification (ASC) 815-40 [4]. - Improper accounting treatment of the 2026 Notes due to the failure to bifurcate the conversion option as required by ASC 815-15 [4].

NEW YORK, June 03, 2025 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of BigBear.ai 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 BigBear.ai 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 arrangeme ...

Core Viewpoint - A class action lawsuit has been filed against BigBear.ai Holdings, Inc. for failing to disclose significant accounting errors that may require restating financial statements from fiscal year 2021 onward [1][2][3]. Group 1: Allegations and Financial Misstatements - The complaint alleges that BigBear maintained deficient accounting review policies, leading to incorrect accounting treatment of the 2026 Convertible Notes [2]. - As a result of these deficiencies, BigBear's financial statements were found to be inaccurate and would likely need to be restated [2]. - On March 18, 2025, BigBear disclosed that certain financial statements should no longer be relied upon, causing a significant drop in stock price by 14.9% to $2.97 per share [3]. Group 2: Class Action Participation - Shareholders may be eligible to participate in the class action against BigBear, with a deadline to file as lead plaintiff by June 10, 2025 [4]. - Shareholders do not need to participate in the case to be eligible for recovery, allowing them to remain absent class members if they choose [4]. Group 3: Company Background - Robbins LLP is a recognized leader in shareholder rights litigation, focusing on helping shareholders recover losses and improve corporate governance since 2002 [5].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against BigBear.ai Holdings, Inc. due to allegations of violations of federal securities laws, particularly concerning misleading financial statements and accounting practices [3][5]. Group 1: Allegations and Financial Impact - The complaint alleges that BigBear maintained deficient accounting review policies related to the reporting and disclosure of certain transactions [5]. - BigBear incorrectly determined that the conversion option within the 2026 Convertible Notes qualified for a derivative scope exception, leading to improper accounting for these notes [5]. - The company’s financial statements since fiscal year 2021 were deemed unreliable and are expected to be restated, increasing the risk of delayed filings with the SEC [5][6]. Group 2: Stock Price Reaction - Following the announcement of the delayed filing of its 2024 10-K, BigBear's stock price dropped approximately 15%, from $3.49 on March 17, 2025, to $2.97 on March 18, 2025 [7]. - After the filing of the restated 2024 10-K on March 25, 2025, the stock price fell about 9%, from $3.51 to $3.19 on March 26, 2025 [9]. Group 3: Legal Proceedings - Investors who suffered losses in BigBear.ai are encouraged to contact Faruqi & Faruqi to discuss their legal rights and options for participating in a federal securities class action [1][3]. - The deadline to seek the role of lead plaintiff in the class action is June 10, 2025 [3].

Core Viewpoint - A class action lawsuit has been filed against BigBear.ai Holdings, Inc. and certain officers for alleged violations of federal securities laws during the Class Period from March 31, 2022, to March 25, 2025, seeking damages for misleading statements regarding the company's financial practices and accounting policies [1][10]. Company Overview - BigBear.ai Holdings, Inc. is an artificial intelligence-driven technology solutions company that provides services in national security, supply chain management, and digital identity and biometrics [4]. Legal Proceedings - The class action lawsuit was filed in the United States District Court for the Eastern District of Virginia, with a deadline of June 10, 2025, for investors to apply as Lead Plaintiff [1][2]. - The complaint alleges that BigBear made materially false and misleading statements about its business operations and compliance policies, particularly regarding the accounting treatment of its 2026 Convertible Notes [10]. Financial Reporting Issues - BigBear disclosed on March 18, 2025, that certain financial statements since fiscal year 2021 should no longer be relied upon due to a material error in accounting for the 2026 Convertible Notes, leading to a significant drop in stock price [11]. - The 2024 10-K filing revealed that the conversion option embedded within the 2026 Notes was incorrectly deemed eligible for a scope exception, necessitating restatement of financial statements [12]. Business Combination - BigBear underwent a Business Combination with GigCapital4, Inc. in December 2021, resulting in the issuance of $200 million in unsecured convertible notes due December 15, 2026, with a 6.0% annual interest rate [5][6].

Core Viewpoint - A securities class action lawsuit has been filed against BigBear.ai Holdings, Inc. for alleged misstatements in financial reporting during the class period from March 31, 2022, to March 25, 2025 [1]. Company Overview - BigBear.ai Holdings, Inc. is an AI-driven technology company based in McLean, VA, providing solutions in national security, supply chain management, and digital identity and biometrics [3]. - The company underwent a business combination with GigCapital4, Inc., a special purpose acquisition company, which was completed on December 7, 2021, and subsequently issued $200 million in convertible notes maturing on December 15, 2026 [3]. Financial Reporting Issues - On March 18, 2025, BigBear announced that certain financial statements since fiscal year 2021 were unreliable and would be restated, particularly concerning the accounting treatment of the 2026 Notes, leading to a stock price drop of $0.52 (14.9%) to $2.97 per share [4]. - Following the filing of its 2024 10-K on March 25, 2025, BigBear disclosed that a conversion option in the 2026 Notes was incorrectly classified, resulting in a restatement of financial statements and identification of a material weakness in internal controls over financial reporting, causing another stock price decline of $0.32 (9.11%) to $3.19 per share [5].

Core Viewpoint - A class action lawsuit has been filed against BigBear.ai Holdings, Inc. for violations of federal securities laws, specifically related to misleading financial statements and inadequate accounting review policies [1][2] Group 1: Lawsuit Details - The lawsuit alleges that BigBear made false and misleading statements regarding its accounting practices, particularly concerning the conversion option in its 2026 Convertible Notes [2] - The company is accused of failing to comply with Accounting Standards Codification (ASC) 815-40 and ASC 815-15, leading to misstated financial statements that will require restatement [2] Group 2: Shareholder Information - Shareholders who purchased BigBear's securities between March 31, 2022, and March 25, 2025, are encouraged to contact the law firm before June 10, 2025, to participate in the lawsuit [1][2]

Core Viewpoint - BigBear.ai has experienced significant volatility in its stock price, with a 142% increase over the past year, but has recently faced a 24% decline in the last three months, raising concerns about its growth potential and profitability [1][2]. Group 1: Sales Performance - BigBear.ai's revenue growth has been disappointing, with only a 5% year-over-year increase to $34.8 million in the most recent quarter, and flat revenue in 2023 with a projected 7% increase for the current year [4][5]. - In comparison, Palantir Technologies, another AI data analytics company, achieved a 29% sales growth last year, highlighting BigBear.ai's underperformance in a rapidly growing market [5]. Group 2: Profitability Concerns - The company reported an adjusted EBITDA loss of $7.0 million in the first quarter, worsening from a loss of $1.6 million in the same quarter the previous year, indicating ongoing financial struggles [6][7]. - Increased research and development expenses, along with rising selling, general, and administrative costs, are contributing to the company's inability to achieve profitability [7]. Group 3: Leadership Instability - BigBear.ai has undergone significant leadership changes, having three CEOs in the past four years, which raises concerns about the company's strategic direction and stability [8][9]. - The current CEO, Kevin McAleenan, has been in position since January and has a background in government, which may influence the company's ability to secure government contracts, but stability in leadership is crucial for long-term success [9]. Group 4: Investment Outlook - Given the combination of weak sales growth, ongoing losses, and leadership changes, the current outlook for BigBear.ai suggests it is not a favorable investment opportunity in a market with more compelling AI stocks [10].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased BigBear.ai Holdings, Inc. securities between March 31, 2022, and March 25, 2025, of the June 10, 2025, deadline to become a lead plaintiff in a class action lawsuit [1] Group 1: Class Action Details - Investors who purchased BigBear.ai securities during the specified Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [1] - A class action lawsuit has already been filed, and interested parties must move the Court by June 10, 2025, to serve as lead plaintiff [2] - The lead plaintiff acts on behalf of other class members in directing the litigation [2] Group 2: Rosen Law Firm's Credentials - Rosen Law Firm emphasizes the importance of selecting qualified counsel with a successful track record in securities class actions [3] - The firm has achieved significant settlements, including the largest securities class action settlement against a Chinese company at the time, and has been ranked highly for its performance in this area [3] - In 2019, the firm secured over $438 million for investors, showcasing its capability in recovering funds for clients [3] Group 3: Case Allegations - The lawsuit alleges that BigBear.ai made false and misleading statements and failed to disclose deficiencies in its accounting review policies [4] - Specific issues include improper accounting for the 2026 Convertible Notes and the likelihood of needing to restate previously issued financial statements [4] - The inaccuracies in financial statements increased the risk of delays in filing reports with the SEC, leading to material misstatements in public disclosures [4]