Kehoe Law Firm, P.C. is investigating potential securities fraud claims on behalf of investors of BigBear.ai Holdings, Inc. (“BigBear.ai” or “BigBear”) (NYSE:BBAI).
Class Action Lawsuit Filed Against BigBear.ai
On April 11, 2025, a class action complaint was filed against BigBear.ai in United States District Court, Eastern District of Virginia (Case No. 1:25-cv-00623), on behalf of investors who acquired BigBear securities between March 31, 2022 and March 25, 2025, both dates inclusive (the “Class Period”).
The class action seeks to recover damages caused by the BigBear.ai Defendants’ alleged violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, against BigBear.ai and certain of its top officials.
Summary of the Class Action Allegations
According to the complaint, throughout the Class Period, the BigBear.ai Defendants made false and/or misleading statements and/or failed to disclose that BigBear maintained deficient accounting review policies related to the reporting and disclosure of certain non-routine, unusual, or complex transactions. As a result, BigBear incorrectly determined that the conversion option within the 2026 Convertible Notes qualified for the derivative scope exception under ASC 815-40 and failed to bifurcate the conversion option as required by ASC 815-15.
Allegedly, BigBear improperly accounted for the 2026 Convertible Notes, an error which caused BigBear to misstate various items in several of its previously issued financial statements which would likely need to be restated.
BigBear Investors May Have Legal Claims
BigBear.ai investors who acquired their securities during the Class Period and suffered financial losses are encouraged to complete Kehoe Law Firm’s Stockholder Information Request Form or send us a message to contact an attorney to discuss the class action and receive a free, no-obligation evaluation of potential legal claims.
For direct inquiries, BigBear investors can contact Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected].
About Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is a nationally recognized, plaintiff-side class action firm dedicated to protecting investors and consumers from fraud and misconduct. Our attorneys have served as Lead or Co-Lead Counsel in major securities cases, recovering over $10 billion for institutional and individual investors.
Our firm litigates securities fraud, fiduciary breaches, unfair mergers and acquisitions, and antitrust violations, while also representing whistleblowers and advocating for victims of data breaches, consumer fraud, vehicle and product defects, employment law violations, retirement plan mismanagement, and other corporate and business misconduct. With a results-driven approach, we pursue justice and substantial recoveries for those we represent.
Kehoe Law Firm’s class action legal services are provided on a contingency-fee basis, meaning clients are not responsible for any fees or litigation expenses.
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