NEW YORK, Nov. 10, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Barrett Business Services, Inc. ("Barrett" or the "Company") (NASDAQ: BBSI). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Barrett and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On October 28, 2014, Barrett disclosed that it had a $37.8 million net loss for its 2014 fiscal third quarter and attributed the loss to an $80 million pretax increase in workers' compensation reserves, which effectively wiped out its pretax earnings for the past five years.
On this news, shares of Barrett fell $26.18 per share, or more than 59%, to close at $18.28 per share on October 29, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP