NEW YORK, July 24, 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Bridger Aerospace Group Holdings, Inc. (“Bridger” or the “Company”) (NASDAQ: BAER). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Bridger and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On July 1, 2024, Bridger disclosed in a filing with the U.S. Securities and Exchange Commission that “[i]n response to a comment letter from the staff of the [SEC], Company management has identified an error in the calculation of diluted EPS. The miscalculation affects the Company’s previously issued audited consolidated financial statements as of and for the year ended December 31, 2023 and its previously issued unaudited interim condensed consolidated financial statements for each of the first three quarters in the year ended December 31, 2023 (collectively, the ‘Affected Financials’) resulting from a miscalculation of net income (loss) attributable to common stockholders – diluted (the ‘numerator’) used in the determination of net income (loss) per common stock – diluted (‘diluted EPS’) and a difference in the weighted average common stock outstanding – diluted (the ‘denominator’) used in the determination of the shares outstanding for diluted EPS for the three months ended March 31, 2023, the six months ended June 30, 2023, the three and nine months ended September 30, 2023, and for the year ended December 31, 2023. The error resulted in a misstatement of diluted EPS in each of the Affected Financials.” Accordingly, Bridger stated that it “intends to restate the Affected Financials . . . as soon as practicable.”
On this news, Bridger’s stock price fell $0.24 per share, or 6.42%, to close at $3.50 per share on July 1, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP