Booz Allen investors may receive additional information about the case by clicking the link "Join this Class Action" above.
Booz Allen provides management and technology consulting, engineering, analytics, digital, mission operations, and cyber solutions to governments, corporations, and not-for-profit organizations in the United States and internationally.
The shareholder class action complaint alleges that Booz Allen and certain of its senior executive officers made materially false and misleading statements to investors about the Company’s business, operations, and prospects during the Class Period. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (1) Booz Allen’s accounting and indirect cost charging practices with the U.S. government were improper; (2) the Company had material weaknesses in its internal controls over accounting and financial reporting; and (3) as a result of the foregoing, Defendants’ public statements about the Company’s business, operations, and financial results were materially false and misleading at all relevant times.
On June 15, 2017, Booz Allen disclosed that “the U.S. Department of Justice is conducting a civil and criminal investigation relating to certain elements of the Company’s cost accounting and indirect cost charging practices with the U.S. government.”
Following this news, shares of the company’s stock declined $7.43 per share, or 18.9%, to close on June 16, 2017, at $31.90 per share, on heavy trading volume.
If you are a member of the class described above, you may no later than August 18, 2017 move the Court to serve as lead plaintiff of the class, if you so choose.
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. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or via e-mail at info@ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com