BigBear.ai Faces Class Action Securities Lawsuit Over Fraud Allegations

NEW YORK, May 19, 2025 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP has announced a class action securities lawsuit involving BigBear.ai Holdings, Inc. (NYSE: BBAI). This lawsuit seeks to recover losses for investors affected by alleged fraudulent activities between March 31, 2022, and March 25, 2025.

The complaint claims that BigBear.ai mismanaged its accounting policies, particularly regarding certain complex transactions. Defendants accused in the lawsuit allegedly made false statements, leading to significant inaccuracies in the company’s financial statements.

The lawsuit specifically alleges that BigBear wrongly classified the conversion option within its 2026 Convertible Notes. This misclassification was said to stem from inadequate accounting reviews, violating standards set by ASC 815-40 and ASC 815-15. Consequently, it has been suggested that financial reports issued by the company were misleading and would likely require restatements.

Joseph E. Levi, Esq., a representative from the firm, mentioned, “Our team has a strong track record of securing compensation for aggrieved shareholders, and we are here to assist those impacted by these troubling allegations against BigBear.ai.”

Investors who suffered losses are urged to act quickly, as they have until June 10, 2025, to request the court appoint them as lead plaintiff. Participation in the lawsuit comes at no cost to class members.

Levi & Korsinsky has an established reputation in securities litigation, having earned recognition in ISS Securities Class Action Services’ Top 50 Report for seven consecutive years. The firm operates with a knowledgeable team of over 70 employees dedicated to helping investors navigate complex legal challenges.