Barrett Business Services Inc.
Robbins Arroyo LLP Is Investigating the Officers and Directors of Barrett Business Services, Inc. (BBSI) on Behalf of Shareholders
Robbins Arroyo LLP is investigating whether certain officers and directors of Barrett Business Services, Inc. (NASDAQGS: BBSI) violated federal securities laws by issuing materially misleading business information to the investing public. Barrett provides business management solutions for small and medium-sized companies in the United States.
Barrett Stock Declines After Firing Chief Financial Officer
On March 9, 2016, Barrett announced in a filing with the U.S. Securities and Exchange Commission that it has terminated Chief Financial Officer (“CFO”) Jim Miller after learning that Miller made “unsupported journal entries” in financial records during each calendar quarter of 2013. Barrett believes the entries overstated direct payroll costs by approximately $1.4 million, payroll taxes and benefits expenses by a total of approximately $9.7 million, and selling, general and administrative expenses by a total of approximately $0.9 million, and understated workers’ compensation expense by approximately $12 million for the year ended December 31, 2013. The audit committee of the company’s board of directors commenced an independent investigation and appointed Thomas Carley as interim CFO. On this news, Barrett stock fell more than 35% in early morning trading on March 10, 2016.
Barrett Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, or you can complete the form below and we will contact you directly.