Core Viewpoint - A securities class action lawsuit has been filed against BigBear.ai Holdings, Inc. for alleged accounting deficiencies and misstatements 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, providing solutions in national security, supply chain management, and digital identity and biometrics [3]. - The company went public through a business combination with GigCapital4, Inc. in December 2021 and issued $200 million in convertible notes maturing on December 15, 2026 [3]. Allegations and Financial Impact - The lawsuit alleges that BigBear failed to disclose deficiencies in its accounting review policies and incorrectly accounted for the conversion option within its 2026 Notes, violating Accounting Standards Codification [4]. - On March 18, 2025, BigBear announced that certain financial statements since fiscal year 2021 should no longer be relied upon, leading to a stock price drop of $0.52 (14.9%) to $2.97 per share [5]. - Following the filing of its 2024 10-K on March 25, 2025, which disclosed a material weakness in internal controls and restated financial statements, the stock price fell an additional $0.32 (9.11%) to close at $3.19 per share [6].

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].

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 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, 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]. Financial Reporting Issues - On March 18, 2025, BigBear announced that certain financial statements since fiscal year 2021 should no longer be relied upon and would be restated, particularly regarding the accounting treatment of the 2026 Notes. Following this announcement, the stock price dropped by $0.52, or 14.9%, closing at $2.97 per share [4]. - On March 25, 2025, BigBear filed its 2024 10-K, revealing that a conversion option in the 2026 Notes was incorrectly classified, leading to a restatement of financial statements. The company also identified a material weakness in its internal control over financial reporting, stating that it had not consistently executed its technical accounting review policies for certain complex transactions. This led to a further stock price decline of $0.32, or 9.11%, closing at $3.19 per share on March 26, 2025 [5].

Core Viewpoint - A securities class action lawsuit has been filed against BigBear.ai Holdings, Inc. for alleged failures in financial disclosures and accounting practices 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. in June 2021, resulting in the issuance of $200 million in convertible notes with a maturity date of December 15, 2026 [3]. Allegations and Financial Impact - The lawsuit alleges that BigBear failed to disclose deficiencies in its accounting review policies and incorrectly accounted for the conversion option within its 2026 Notes, violating Accounting Standards Codification [4]. - On March 18, 2025, BigBear announced that certain financial statements since fiscal year 2021 should no longer be relied upon, leading to a stock price drop of $0.52 per share (14.9%) to close at $2.97 [5]. - Following the filing of its 2024 10-K on March 25, 2025, which disclosed a material weakness in internal controls and restated financial statements, BigBear's stock fell by $0.32 per share (9.11%) to close at $3.19 [6].