The Wagner Firm reminds investors that purchasers of the securities of
Barrett Business Services, Inc. (“BBSI” or the “Company”)
(NASDAQ:BBSI) between February 12, 2013 and October 29, 2014, inclusive
(the “Class Period”), have until January 5, 2015, to file a motion to be
appointed as lead plaintiff in the shareholder lawsuit filed in the
United States District Court for the Western District of Washington.
BBSI investors are encouraged to contact Avi Wagner at (310) 491-7949 or
by e-mail at info@thewagnerfirm.com
to discuss this matter.
BBSI provides business management solutions for small and medium-sized
companies in the United States. The Complaint alleges that defendants
made false and/or misleading statements and/or failed to disclose: (1)
that the Company under accrued its self-insured workers’ compensation
reserves; (2) that, as a result, the Company overstated its earnings;
(3) that the Company lacked adequate internal and financial controls;
and (4) that, as a result of the foregoing, defendants’ statements were
materially false and misleading at all relevant times.
On October 28, 2014, BBSI disclosed that it had a net loss of $37.8
million for its 2014 fiscal third quarter. According to the Company,
this loss was driven by an $80 million pretax increase in workers’
compensation reserves, which effectively wiped out the Company’s past
five years of pretax earnings. As a result of this news, the Company’s
stock declined $26.18 per share, over 58%, to close on October 29, 2014
at $18.28 per share, on unusually heavy volume.
If you are a member of the Class described above, you may move the Court
no later than January 5, 2015, to serve as lead plaintiff, if you meet
certain legal requirements. To be a member of the plaintiff 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 plaintiff
class.
If you purchased BBSI shares, if you have information, or if you wish to
learn more about this action or receive a copy of the Complaint, please
contact Avi Wagner, Esquire, of The Wagner Firm, 1925 Century Park East,
Suite 2100, Los Angeles, California 90067, at (310) 491-7949, by e-mail
at info@thewagnerfirm.com,
or visit our website at http://thewagnerfirm.com.
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jurisdictions under the applicable law and ethical rules.
Copyright Business Wire 2014