NEW YORK, Aug. 03, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Bridger Aerospace Group Holdings, Inc. (“Bridger” or the “Company”) (NASDAQ: BAER). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Bridger and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On July 1, 2024, Bridger disclosed in a filing with the U.S. Securities and Exchange Commission that “[i]n response to a comment letter from the staff of the [SEC], Company management has identified an error in the calculation of diluted EPS. The miscalculation affects the Company’s previously issued audited consolidated financial statements as of and for the year ended December 31, 2023 and its previously issued unaudited interim condensed consolidated financial statements for each of the first three quarters in the year ended December 31, 2023 (collectively, the ‘Affected Financials’) resulting from a miscalculation of net income (loss) attributable to common stockholders - diluted (the ‘numerator’) used in the determination of net income (loss) per common stock - diluted (‘diluted EPS’) and a difference in the weighted average common stock outstanding – diluted (the ‘denominator’) used in the determination of the shares outstanding for diluted EPS for the three months ended March 31, 2023, the six months ended June 30, 2023, the three and nine months ended September 30, 2023, and for the year ended December 31, 2023. The error resulted in a misstatement of diluted EPS in each of the Affected Financials.” Accordingly, Bridger stated that it “intends to restate the Affected Financials . . . as soon as practicable.”
On this news, Bridger’s stock price fell $0.24 per share, or 6.42%, to close at $3.50 per share on July 1, 2024.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
