BBAI ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action on Behalf of BigBear.ai Holdings, Inc. Investors

Core Viewpoint - A class action lawsuit has been filed against BigBear.ai Holdings, Inc. for alleged accounting errors and misstatements in financial reporting during the Class Period from March 31, 2022, to March 25, 2025 [1][6] Group 1: Lawsuit Details - The lawsuit was initiated in the U.S. District Court for the Eastern District of Virginia, with investors having until June 10, 2025, to apply as lead plaintiffs [1] - The complaint alleges that BigBear failed to disclose deficiencies in its accounting review policies, leading to improper accounting for the 2026 Convertible Notes [6] Group 2: Financial Reporting Issues - On March 18, 2025, BigBear announced that certain financial statements since fiscal year 2021 should no longer be relied upon due to a material error related to the accounting treatment of the 2026 Convertible Notes [4] - The 2024 10-K filing revealed that the conversion option within the 2026 Notes was incorrectly deemed eligible for a scope exception, necessitating restatement of financial statements [5] - The restatement affected various financial metrics, including accumulated deficits, derivative liabilities, and net loss [5] Group 3: Market Reaction - Following the announcement of the financial reporting issues, BigBear's share price fell from $3.49 to$2.97 on March 18, 2025, and from $3.51 to$3.19 on March 26, 2025 [4][5]