SOURCE: Kessler Topaz Meltzer & Check, LLP

December 12, 2014 09:00 ET

Investor Alert: Kessler Topaz Meltzer & Check, LLP Announces Shareholder Class Action Against Barrett Business Services, Inc. (BBSI) and Reminds Shareholders of January 5, 2015 Deadline

RADNOR, PA--(Marketwired - Dec 12, 2014) - The law firm of Kessler Topaz Meltzer & Check, LLP announces that a shareholder class action has been filed against Barrett Business Services, Inc. (NASDAQ: BBSI) ("Barrett" or the "Company") on behalf of purchasers of the Company's common stock between February 12, 2013 and October 29, 2014, inclusive (the "Class Period").

Barrett shareholders are reminded that they may, no later than January 5, 2015, petition the Court to be appointed as a lead plaintiff of the Class. A lead plaintiff is a representative party who acts on behalf of all shareholders in directing the litigation against the Company. Shareholders who wish to discuss their legal options are encouraged to contact Kessler Topaz Meltzer & Check (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299 - 7706. For additional information about the lawsuit, or to request information about the action online, please visit http://www.ktmc.com/case/Barrett.

Barrett provides business management solutions for small and medium-sized companies in the United States. On October 28, 2014, the Company disclosed a net loss of $37.8 million, or $(5.27) per share, for its 2014 fiscal third quarter. According to the Complaint, this loss was driven by an $80 million pretax increase in workers' compensation reserves, "which effectively wiped out the Company's past five years of pretax earnings." On this news, shares of Barrett's common stock declined $26.18 per share, or over 58%, to close on October 29, 2014 at $18.28 per share, on unusually heavy volume.

The Complaint alleges that Barrett and certain of its executive officers made a series of false and misleading statements and/or failed to disclose: (1) that the Company under accrued its self-insured workers' compensation reserves; (2) that, as a result, the Company overstated its earnings; (3) that the Company lacked adequate internal and financial controls; and (4) that, as a result of the foregoing, defendants' statements were materially false and misleading at all relevant times.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299 - 7706 or (610) 667 - 7706, or via e-mail at info@ktmc.com. The complaint in this action was not filed by Kessler Topaz Meltzer & Check. For additional information about the lawsuit, or to request information about the action online, please visit http://www.ktmc.com/case/Barrett.

Members of the class may, no later than January 5, 2015, petition the Court for appointment as a lead plaintiff of the class. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that a class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com.

Contact Information

  • CONTACT:
    Kessler Topaz Meltzer & Check, LLP
    Darren J. Check, Esq.
    D. Seamus Kaskela, Esq.
    Adrienne O. Bell, Esq.
    280 King of Prussia Road
    Radnor, PA 19087
    (888) 299 - 7706
    (610) 667 - 7706
    Email Contact