BigBear.ai Holdings Inc. leaders concealed accounting flaws which eventually forced it to restate figures dating back to its 2021 special purpose acquisition company merger, a shareholder lawsuit said.
The artificial intelligence company’s stock dropped twice last month after it revealed it improperly accounted for convertible notes due to mature in December 2026, a stockholder told the US District Court for the Eastern District of Virginia.
Current and former executives and board members harmed BigBear’s reputation and wallet, said Thursday’s complaint, by issuing and allowing it to issue misleading statements on its accounting ability. Their alleged misconduct forced BigBear to spend ...
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