NEW YORK--(BUSINESS WIRE)--Kirby McInerney LLP announced today that it is investigating Barrett Business Services, Inc (“BBSI” or the “Company”) (NASDAQ:BBSI) in connection with possible violations of federal securities law. The investigation concerns allegations that the Company overstated its earnings and under accrued its self-insured workers’ compensation reserves during the period from February 12, 2013 through October 29, 2014 (the “Class Period”).
On October 28, 2014, BBSI disclosed that it suffered a net loss of $37.8 million for its 2014 fiscal third quarter. According to the Company, this loss, driven by an $80 million pretax increase in workers’ compensation reserves, effectively wiped out the Company’s past five years of pretax earnings. As a result of this news, the Company’s stock declined from $44.46 per share to $18.28 per share.
If you acquired BBSI securities during the Class Period and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at firstname.lastname@example.org, or telephone at (212) 699-1145, Melissa Fortunato, Esq. by email at email@example.com, or telephone at (212) 699-1141, or toll free at (888) 529-4787, or by filling out this contact form. There is no cost or obligation to you.
Kirby McInerney LLP is a New York-based law firm concentrating in securities, whistleblower, antitrust and consumer litigation. For additional information, please go to www.kmllp.com.