Cases
Booz Allen Hamilton Holding Corporation (NYSE: BAH)
Securities Class Action
Overview
Overview
- Date:
- 6/20/2017
- Company Name:
- Booz Allen Hamilton Holding Corporation
- Stock Symbol:
- BAH
- Class Period:
- FROM 5/19/2016 TO 6/15/2017
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Eastern District of Virginia
NEW YORK, June 20, 2017 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of Virginia on behalf of all persons or entities who purchased or otherwise acquired Booz Allen Hamilton Holding Corporation (NYSE: BAH) securities between May 19, 2016 and June 15, 2017 (the “Class Period”). Investors have until August 18, 2017 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The Complaint alleges that throughout the Class Period the Company made false and/or misleading statements and/or failed to disclose that: (i) Booz Allen engaged in improper accounting practices in its contracts with the U.S. government; (ii) consequently, the Company’s revenues derived from services provided to the U.S. government were inflated and unsustainable; (iii) discovery of the foregoing conduct would subject the Company to heightened regulatory scrutiny, potential criminal sanctions, and jeopardize its business relationship with the U.S. government; and (iv) as a result of the foregoing, Booz Allen’s public statements were materially false and misleading throughout the Class Period.
On June 15, 2017, Booz Allen Hamilton announced that it “was informed 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, BAH shares fell $7.43 per share, or 18.9%, to close at $31.90 on June 16, 2017.
If you purchased or otherwise acquired Booz Allen Hamilton securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The Complaint alleges that throughout the Class Period the Company made false and/or misleading statements and/or failed to disclose that: (i) Booz Allen engaged in improper accounting practices in its contracts with the U.S. government; (ii) consequently, the Company’s revenues derived from services provided to the U.S. government were inflated and unsustainable; (iii) discovery of the foregoing conduct would subject the Company to heightened regulatory scrutiny, potential criminal sanctions, and jeopardize its business relationship with the U.S. government; and (iv) as a result of the foregoing, Booz Allen’s public statements were materially false and misleading throughout the Class Period.
On June 15, 2017, Booz Allen Hamilton announced that it “was informed 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, BAH shares fell $7.43 per share, or 18.9%, to close at $31.90 on June 16, 2017.
If you purchased or otherwise acquired Booz Allen Hamilton securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.