NEW YORK, June 21, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Booz Allen Hamilton Holding Corporation ("Booz Allen " or the "Company") (NYSE: BAH) securities and certain of its officers, on behalf of a class who purchased Booz Allen securities between May 19, 2016 and June 15, 2017, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/bah.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1933.
The complaint alleges that throughout the Class Period, Defendants 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) as a result, 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) consequently, Booz Allen's public statements were materially false and misleading at all relevant times.
On June 15, 2017, after-market hours, Booz Allen revealed that on June 7, 2017, its 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." Following this news, Booz Allen stock has dropped $7.43 per share, or roughly 18% to close at $31.90 per share on June 16, 2017.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/bah or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Booz Allen you have until August 18, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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SOURCE Bronstein, Gewirtz & Grossman, LLC