RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased Booz Allen Hamilton Holding Corp. (NYSE: BAH) (“Booz Allen” or the “Company”) securities between May 19, 2016 and June 15, 2017, inclusive (the “Class Period”).
Booz Allen shareholders may, no later than August 18, 2017, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Booz Allen and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
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 complaint alleges that Booz Allen and certain of its senior executive officers made a series of false and misleading statements to investors about the Company’s business, operations, and compliance policies. Specifically, the defendants are alleged to have made false and 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; and (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.
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, you may, no later than August 18, 2017, request that the Court appoint you as lead plaintiff of the class. 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. Under certain circumstances, one or more class members may together serve as “lead plaintiff.” Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.