BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of Barrett Business Services, Inc. (“BBSI” or the “Company”) (NASDAQ:BBSI). The investigation concerns possible violations of federal securities laws and focuses on certain statements issued by BBSI concerning the Company’s financial results, operations and business prospects. BBSI provides business management solutions for small and medium-sized companies in the United States.
The investigation relates to the Company’s October 28, 2014, disclosure that BBSI had a net loss of $37.8 million for its 2014 fiscal third quarter. According to the Company, this loss was driven by an $80 million pretax increase in workers’ comp reserves, which effectively wiped out the Company’s past five years of pretax earnings. As a result of this news, the Company’s stock declined $26.18 per share, over 58%, to close on October 29, 2014 at $18.28 per share, on unusually heavy volume.
If you purchased BBSI shares, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.