SAN DIEGO, Dec. 15, 2014 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of shares of Barrett Business Services, Inc. (BBSI) over alleged Federal Securities Laws Violations by Barrett Business Services.
If you purchased shares of Barrett Business Services, Inc. (Nasdaq:BBSI), you have certain options and for certain investors are short and strict deadlines running. Deadline: January 5, 2015. BBSI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that the defendants made certain allegedly false and/or misleading statements and/or allegedly failed to disclose that Barrett Business Services, Inc. under accrued its self-insured workers' compensation reserves, that as a result, Barrett Business Services, Inc. overstated its earnings, that Barrett Business Services, Inc. lacked adequate internal and financial controls, and that, as a result of the foregoing, defendants' statements were materially false and misleading at all relevant times.
On October 28, 2014, Barrett Business Services, Inc. announced its third quarter 2014 financial results. Barrett Business Services, Inc disclosed that it had a $37.8 million net loss for its 2014 fiscal third quarter. Barrett Business Services, Inc. recorded an additional increase to its self-insured workers' compensation reserve of $80 million or $47.9 million after tax, which effectively erased Barrett Business Services' past five years of pretax earnings. Shares of Barrett Business Services, Inc. (Nasdaq:BBSI) declined from over $100 per share in January 2014 to as low as $18.25 per share on October 29, 2014.
Those who purchased shares of Barrett Business Services, Inc. (Nasdaq:BBSI) have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.