SAN FRANCISCO--(BUSINESS WIRE)--The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action litigation has been filed on behalf of investors who purchased or otherwise acquired the securities of Booz Allen Hamilton Corporation (“Booz Allen” or the “Company”) (NYSE: BAH) between May 19, 2016 and June 15, 2017, inclusive (the “Class Period”).
If you purchased or otherwise acquired Booz Allen securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than August 18, 2017. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.
Booz Allen investors who wish to learn more about the litigation and how to seek appointment as lead plaintiff should click here or contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.
Background on the Booz Allen Securities Class Litigation
Booz Allen is a Virginia-based American management consulting firm.
The action alleges that, throughout the Class Period, Booz Allen and certain of its senior executives made false and/or misleading statements and/or failed to disclose that: (i) the company engaged in improper accounting practices in its contracts with the U.S. government; (ii) consequently, Booz Allen’s revenues, which were in large part derived from services provided to the U.S. government, were inflated and unsustainable; and (iii) discovery of such conduct would subject the Company to increased regulatory scrutiny, potential criminal sanctions, and jeopardize its business relationship with its primary source of revenue, the U.S. government.
On June 15, 2017, after the stock market closed, Booz Allen revealed that the Company’s subsidiary Booz Allen Hamilton Inc. learned on June 7, 2017 that the U.S. Department of Justice is conducting “a civil and criminal investigation relating to certain elements of [the subsidiary’s] cost accounting and indirect cost charging practices with the U.S. government.” On this news, Booz Allen’s share price dropped $7.43 per share, or 18.89% from a closing price of $39.33 per share on June 15, 2017, to close at $31.90 per share on June 16, 2017, on extremely elevated trading volume.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Seattle, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.
The National Law Journal has recognized Lieff Cabraser as one of the nation’s top plaintiffs’ law firms for fourteen years. In compiling the list, the National Law Journal examines recent verdicts and settlements and looked for firms “representing the best qualities of the plaintiffs’ bar and that demonstrated unusual dedication and creativity.” Law360 has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm’s “laser focus” and noting that our firm routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.” In late 2016, Benchmark Litigation named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in America.”
For more information about Lieff Cabraser and the firm’s representation of investors, please visit https://www.lieffcabraser.com.
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