BigBear.ai Holdings, Inc. Faces Securities Fraud Allegations
A lawsuit has been filed against BigBear.ai Holdings, Inc. (NYSE:BBAI) and certain senior executives for potential violations of federal securities laws. The law firm Bleichmar Fonti & Auld LLP (BFA Law) announced the lawsuit, which claims BigBear.ai improperly accounted for $200 million in unsecured convertible notes due in 2026, leading to misstated financial statements.
Background on BigBear.ai
BigBear.ai is an AI-driven technology company providing solutions in national security, supply chain management, and digital identity. The company went public through a SPAC transaction in 2021, issuing the controversial 2026 Convertible Notes.
Key Allegations and Stock Performance
On March 18, 2025, BigBear.ai delayed filing its 2024 10-K, revealing that financial statements since 2021 were unreliable and would be restated. This disclosure led to a 15% stock price drop, from $3.49 to $2.97 per share. A subsequent filing on March 25, 2025, restating financial results and disclosing material weaknesses in internal controls, caused another 9% decline, to $3.19 per share.
Legal Options for Investors
Investors who purchased BigBear.ai securities may have legal recourse and are encouraged to contact BFA Law before the June 10, 2025 deadline to potentially lead the case. Representation is on a contingency fee basis, with no upfront costs to shareholders.
About Bleichmar Fonti & Auld LLP
BFA Law is a prominent international law firm specializing in securities class actions. The firm has achieved significant recoveries, including $900 million from Tesla’s Board of Directors and $420 million from Teva Pharmaceutical.
To submit your information or learn more: https://www.bfalaw.com/cases-investigations/bigbearai-holdings-inc
Contact: Ross Shikowitz ross@bfalaw.com 212-789-3619
