San Diego – (Businesswire): Haeggquist & Eck, LLP a shareholder rights litigation firm, is investigating potential corporate misconduct at Booz Allen Hamilton Holding Corporation (NYSE: BAH) (“Booz Allen” or the “Company”), an entity providing management and technology consulting and other services to governments and corporations. On June 15, 2017, Booz Allen issued a statement that the Company’s subsidiary Booz Allen Hamilton Inc. had been informed, on June 7, 2017, “that the U.S. Department of Justice [the “DOJ”] is conducting a civil and criminal investigation relating to certain elements of [its] cost accounting and indirect cost charging practices with the U.S. government.” Our investigation includes examination of whether Booz Allen’s executives and directors breached their fiduciary duties by causing the Company to issue materially false and misleading statements regarding the Company’s business, operational and compliance policies and/or failed to timely disclose any improper accounting practices regarding Booz Allen’s government contracts.
Notably, Booz Allen has recently been subject to securities class action claims filed in the U.S. District Court for the Eastern District of Virginia (the “Class Action”) in relation to the June 15, 2017 announcement of the DOJ investigation. Currently, the proposed Class Action is filed on behalf of those who acquired Booz Allen securities between May 19, 2016 and June 15, 2017, with an August 18, 2017 deadline to move the court to serve as a lead plaintiff in the Class Action.
Following the June 15, 2017 announcement of the DOJ investigation, Booz Allen’s share price fell more than 18% to close at $31.90 on June 16, 2017.
Booz Allen Shareholders Have Legal Options
Concerned Booz Allen shareholders who would like more information about potential remedies for the alleged misconduct, including remedies to the Company from the alleged misconduct of its executives and/or directors, may contact attorneys Amber Eck or Kathleen Herkenhoff at (619) 342-8000, firstname.lastname@example.org or email@example.com.
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