BigBear.ai(BBAI) Prnewswire·2025-05-31 12:40Core 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 [2][4]. Group 1: Allegations and Financial Impact - The complaint alleges that BigBear maintained deficient accounting review policies, leading to incorrect determinations regarding the 2026 Convertible Notes and improper accounting practices [4]. - As a result of these errors, BigBear's financial statements since fiscal year 2021 are deemed unreliable and will require restatement, increasing the risk of delayed filings with the SEC [4][6]. - Following the announcement of the delayed filing of its 2024 10-K, BigBear's stock price fell approximately 15%, from 2.97 on March 18, 2025 [5]. - After the filing of the restated 2024 10-K, the stock price declined further by about 9%, from 3.19 on March 26, 2025 [7]. Group 2: Legal Proceedings and Investor Actions - Investors who suffered losses in BigBear.ai between March 31, 2022, and March 25, 2025, are encouraged to discuss their legal rights and options with Faruqi & Faruqi [1]. - There is a June 10, 2025, deadline for investors to seek the role of lead plaintiff in the federal securities class action against BigBear [2]. - The lead plaintiff is defined as the investor with the largest financial interest in the relief sought, who will oversee the litigation on behalf of the class [8].