BBAI Class Action Lawsuit: Important Information for Shareholders

On June 5, 2025, Robbins LLP issued a notice to shareholders concerning a class action lawsuit filed on behalf of individuals and entities who acquired BigBear.ai Holdings, Inc. (NYSE: BBAI) securities during the period from March 31, 2022, to March 25, 2025. BigBear.ai is a forward-thinking company that specializes in artificial intelligence-driven technology solutions.

Key Information About the Class Action

The investors impacted by this class action are those who bought or otherwise acquired BigBear.ai securities within the specified timeframe. The lawsuit arises from significant allegations that the company failed to properly disclose vital information regarding its financial statements. According to the complaint, the company's accounting practices related to specialized and complex transactions were declared deficient.

It has been alleged that:

1. BigBear did not adequately disclose accounting reviews for certain transactions.
2. The company incorrectly categorized the conversion option for its 2026 Convertible Notes under the ASC 815-40 derivative scope.
3. As a result, BigBear inaccurately accounted for the 2026 Convertible Notes.
4. This mismanagement led to various financial statement inaccuracies, indicating that these documents would likely need to be restated.
5. BigBear's failure to correct these mistakes increased the risk that it would not meet SEC report filing deadlines.

The financial fallout was apparent when, on March 18, 2025, BigBear disclosed in an SEC filing that previous financial statements dating back to fiscal year 2021 were no longer reliable and would require restatement due to a material error in the treatment of its 2026 Convertible Notes. Following this announcement, the stock price saw a sharp decline, dropping $0.52 or approximately 14.9%, to close at $2.97 per share.

What Shareholders Should Do

Shareholders who wish to serve as lead plaintiffs in this class action must submit their filings to the court by June 10, 2025. Being a lead plaintiff means a shareholder will represent other members of the class during the proceedings.

Investors should be aware that participation in this case is not mandatory for recovery eligibility. Those who opt not to take action will remain as absent class members but still retain the right to claim a potential recovery. For more detailed information, shareholders can reach out to Robbins LLP through a contact form, email attorney Aaron Dumas, Jr., or call their office at (800) 350-6003.

Robbins LLP's Commitment to Shareholders

Robbins LLP has earned a respected reputation in shareholder rights litigation. Since 2002, the firm has focused on assisting shareholders in recovering their losses, enhancing corporate governance practices, and holding company executives accountable for their actions.

For those interested in receiving updates on the class action against BigBear.ai Holdings, or alerts on corporate misconduct by executives, sign up for their Stock Watch service.

To summarize, the class action suit constitutes a significant opportunity for shareholders to seek redress for the alleged mishandling of financial reporting by BigBear.ai, and it’s critical for those affected to act swiftly in order to protect their interests.