The Shareholders Foundation announces that a deadline is coming up on January 5, 2015 in the lawsuit filed for investors of Barrett Business Services, Inc. (NASDAQ:BBSI) over alleged violations of Federal Securities Laws by Barrett Business Services, Inc.
Investors who purchased shares of Barrett Business Services, Inc. (NASDAQ:BBSI) have certain options and there are strict and short deadlines running. Deadline: Jan. 5, 2015. NASDAQ:BBSI stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint filed in the U.S. District Court for the Western District of Washington the plaintiff alleges on behalf of purchasers of Barrett Business Services, Inc. (NASDAQ:BBSI) common shares between February 12, 2013 and October 29, 2014, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that between February 12, 2013 and October 29, 2014 the defendants made 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. reported that its third quarter Revenue rose from $147.97 million in 2013 to $174.96 million in 2014, while its third quarter Net Income of $8.99 million in 2013 turned into a third quarter Net Loss of $37.81 million in 2014. Shares of Barrett Business Services, Inc. (NASDAQ:BBSI) declined to as low as $18.25 per share on October 29, 2014.
On December 5, 2014, NASDAQ:BBSI shares closed at $21.38 per share.
Those who purchased shares of Barrett Business Services, Inc. (NASDAQ:BBSI) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com