NEW YORK, July 05, 2017 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Booz Allen Hamilton Holding Corporation (NYSE:BAH) from May 19, 2016 through June 15, 2017, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Booz Allen investors under the federal securities laws.
To join the Booz Allen class action, go to http://rosenlegal.com/cases-1147.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
The complaint alleges that defendants during the Class Period made false and misleading statements and/or failed to disclose that: (1) Booz Allen engaged in improper accounting practices in its contracts with the U.S. government; (2) consequently, Booz Allen’s revenues derived from services provided to the U.S. government were inflated and unsustainable; (3) discovery of such going conduct would subject Booz Allen to heightened regulatory scrutiny, potential criminal sanctions, and jeopardize its business relationship with the U.S. government; and (4) as a result, Booz Allen’s public statements were materially false and misleading at all relevant times.
On June 15, 2017, Booz Allen disclosed post-market that Booz Allen’s subsidiary Booz Allen Hamilton Inc. on June 7, 2017 “was informed that the U.S. Department of Justice is conducting a civil and criminal investigation relating to certain elements of [its] cost accounting and indirect cost charging practices with the U.S. government.” On this news, shares of Booz Allen fell $7.43 per share or over 18% to close at $31.90 per share on June 16, 2017, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 18, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://rosenlegal.com/cases-1147.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.