| COMPANY |
BigBear.ai Holdings, Inc. |
| COURT |
United States District Court for the Eastern District of Virginia |
| CASE NUMBER |
1:25-cv-00623 |
| JUDGE |
The Hon. Patricia Tolliver Giles |
| CLASS PERIOD |
March 31, 2022, through March 25, 2025 |
| SECURITY TYPE |
Securities |
LEAD PLAINTIFF DEADLINE IS JUNE 10, 2025.
If you have suffered losses and would like to discuss your rights, please fill out this form or you may contact Jonathan Naji, Esq. at (484) 270-1453 or via e-mail at info@ktmc.com.
Case Background:
A class action lawsuit was filed on behalf of those who purchased or otherwise acquired BigBear.ai Holdings, Inc. (“BigBear”) (NYSE: BBAI) securities between March 31, 2022, and March 25, 2025, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) BigBear failed to maintain effective accounting review policies related to the reporting and disclosure of certain non-routine, unusual, or complex transactions; (2) the company incorrectly determined that the conversion option within the 2026 Notes qualified for the derivative scope exception under Accounting Standards Codification (“ASC”) 815-40 and failed to bifurcate the conversion option as required by ASC 815-15; (3) accordingly, BigBear had improperly accounted for the 2026 Notes, which caused BigBear to misstate various items in several of the company’s previously issued financial statements, and rendered such financial statements inaccurate, thereby creating a likelihood that they would need to be restated; (4) BigBear would require extra time and expense to correct the inaccurate financial statements, thereby increasing the risk that the company would be unable to timely file certain financial reports with the SEC; and (5) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
What is a Lead Plaintiff?
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.