NEW YORK, Nov. 6, 2014 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities law firm, announces that it is investigating claims on behalf of investors of Barrett Business Services Inc. (Nasdaq: BBSI) ("Barrett" or the "Company") who purchased shares of the Company during the period April 25, 2012 through October 28, 2014. The investigation focuses on certain statements issued by Barrett regarding the Company's financial results.
On October 28, 2014, Barrett reported a net loss of $37.8 million for its third quarter ended September 30, 2014, driven by an $80 million pretax increase in workers' compensation reserves, erasing Barrett's past five years of pretax earnings. This revelation is a stark contrast to Barrett's earlier representations that "based upon facts and other trends associated with the Company's historical universe of claims data," its workers' compensation claims reserves were "reasonable and objective."
On this news, Barrett common stock declined $26.18 per share or nearly 59%, to close at $18.28 per share on October 29, 2014.
If you purchased shares of Barrett during the period April 25, 2012 through October 28, 2014, and have suffered a significant loss from your investment in Barrett common stock and would like to learn more about this investigation and your ability to potentially recover your losses, please contact us either by email at contact@tripplevy.com or by telephone at (800) 511-7037 or visit our website at www.tripplevy.com.
Tripp Levy PLLC is a leading national securities and shareholder rights law firm representing both individual and institutional shareholders and, along with its affiliates, has recovered billions of dollars for shareholders. Tripp Levy PLLC is affiliated with Milberg LLP. Attorney advertising. Prior results do not indicate a similar outcome
Tripp Levy PLLC
Email: contact@tripplevy.com
Toll free: 1-800-511-7037
International: 602.241.2841
www.tripplevy.com
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