BigBear.ai(BBAI) GlobeNewswire News Room·2025-05-30 16:37Core Viewpoint - A class action securities lawsuit has been filed against BigBear.ai Holdings, alleging securities fraud that affected investors between March 31, 2022, and March 25, 2025 [1]. Group 1: Lawsuit Details - The complaint alleges that BigBear.ai Holdings maintained deficient accounting review policies related to the reporting and disclosure of certain non-routine, unusual, or complex transactions [2]. - It is claimed that 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 [2]. - The alleged accounting errors caused BigBear to misstate various items in several previously issued financial statements, which are likely to require restatement [2]. - The inaccuracies in financial statements increased the risk that the Company would be unable to timely file certain financial reports with the SEC [2]. - As a result, the Company's public statements were materially false and misleading during the relevant time [2]. Group 2: Next Steps for Investors - Investors who suffered losses in BigBear.ai Holdings during the relevant time frame have until June 10, 2025, to request the Court to appoint them as lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, and participation does not require serving as a lead plaintiff [3]. Group 3: Firm Background - Levi & Korsinsky has a track record of securing hundreds of millions of dollars for aggrieved shareholders and has extensive expertise in complex securities litigation [4]. - The firm has been ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States for seven consecutive years [4].