Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Booz Allen Hamilton Holding Corporation (BAH)

NEW YORK, June 21, 2017 -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Booz Allen Hamilton Holding Corporation (“Booz Allen” or the “Company”) (NYSE:BAH) in the United States District Court for the Eastern District of Virginia on behalf of a class consisting of investors who purchased or otherwise acquired Booz Allen stock on the open market from May 19, 2016 through June 15, 2017, inclusive (the “Class Period”), seeking to recover compensable damages caused by Defendants’ violations of the Securities Exchange Act of 1934.

The Complaint alleges that Defendants made false and misleading statements and/or failed to disclose that: (i) Booz Allen engaged in improper accounting practices in its contracts with the U.S. government; (ii) consequently, Booz Allen’s revenues derived from services provided to the U.S. government were inflated and unsustainable; (iii) discovery of such going conduct would subject Booz Allen to heightened regulatory scrutiny, potential criminal sanctions, and jeopardize its business relationship with the U.S. government; and (iv) as a result, Booz Allen’s public statements were materially false and misleading at all relevant times.

On June 15, 2017, Booz Allen disclosed post-market that Booze Allen’s subsidiary Booz Allen Hamilton Inc. on June 7, 2017 “was informed that the U.S. Department of Justice 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.”  On this news, shares of Booz Allen fell $7.43 per share or over 18% to close at $31.90 per share on June 16, 2017, damaging investors.

If you wish to serve as lead plaintiff, you must move the Court no later than August 18, 2017.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].

Please visit our website at http://www.gme-law.com for more information about the firm.