LOS ANGELES--(BUSINESS WIRE)--
Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased Booz Allen Hamilton Holding Corporation (“Booz Allen” or the “Company”) (NYSE: BAH) securities between May 19, 2016 and June 15, 2017, inclusive (the “Class Period”). Booz Allen investors have until August 18, 2017 to file a lead plaintiff motion. To obtain information or participate in the class action, please visit the Booz Allen page on our website at www.glancylaw.com.
Investors suffering losses on their Booz Allen investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to [email protected].
On June 15, 2017, post-market, Booz Allen revealed that on June 7, 2017, the Company’s subsidiary Booz Allen Hamilton Inc. “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.”
In response to this, Booz Allen’s share price fell $7.43, or 18.89%, to close at $31.90 on June 16, 2017.
The complaint filed in this lawsuit alleges that throughout the Class Period, Defendants made materially 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, the Company’s revenues derived from services provided to the U.S. government were inflated and unsustainable; (3) discovery of the foregoing conduct would subject the Company to heightened regulatory scrutiny, potential criminal sanctions, and jeopardize its business relationship with the U.S. government; and (4) as a result of the foregoing, Booz Allen’s public statements were materially false and misleading at all relevant times.
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If you purchased shares of Booz Allen during the Class Period you may move the Court no later than August 18, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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