NEW YORK, June 20, 2017 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Booz Allen Hamilton Holding Corporation (“Booz Allen” or the “Company”) (NYSE:BAH) of the August 18, 2017 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Booz Allen stock or options between May 19, 2016 and June 15, 2017 and would like to discuss your legal rights, click here: www.faruqilaw.com/BAH. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.
The lawsuit has been filed in the U.S. District Court for the Eastern District of Virginia on behalf of all those who purchased Booz Allen securities between May 19, 2016 and June 15, 2017 (the “Class Period”). The case Langley v. Booz Allen Hamilton Holding Corporation, et al., No. 17-cv-00696 was filed on June 19, 2017, and has been assigned to Judge Leonie M. Brinkema.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to maintain proper internal financial controls and accounting standards that led to inflated revenues from Company’s contracts with the U.S. government.
Specifically, after market closed on June 15, 2017, the Company announced that its subsidiary, Booz Allen Inc., “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.”
After the announcement, Booz Allen’s share price fell from $39.33 per share on June 15, 2017 to a closing price of $31.90 on June 16, 2017—a $7.43 or an 18.9% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Booz Allen’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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