NEW YORK--(BUSINESS WIRE)--Harris, St. Laurent & Chaudhry LLP and Mark Kelly, Esq. today announced that on April 9, 2018, they filed a securities class action lawsuit on behalf of Paul Kocourek, in his individual capacity and as trustee for The Paul Kocourek Trust (“Kocourek”) against Booz Allen Hamilton (“BAH” or the “Company”) and certain former BAH executives. The action, filed in the U.S. District Court for the Southern District of New York, asserts claims under the Securities Exchange Act of 1934 on behalf of all those who sold or exchanged BAH securities in connection with the sale of BAH’s Government Division to The Carlyle Group (“Carlyle”) in 2008 (the “Class Period”).
The Complaint alleges that during the Class Period, Defendants engaged in a fraudulent plan to sell the Government Division to Carlyle at a significant discount. To implement this scheme, Defendants made false and misleading statements to BAH shareholders about the sales process and the value of the Government Division, many of which were included in an Information Circular distributed to BAH shareholders on May 22, 2008. Defendants intended to deceive BAH’s shareholders so that they would vote to tender their stock at $763 per share, far below its actual value.
The sale to Carlyle closed on July 31, 2008. Nearly two years later, on June 21, 2010, Carlyle published a Form S-1 filing in connection with its planned IPO of the Government Division, which disclosed new information demonstrating that certain of the statements contained in the Information Circular were false and misleading, that BAH shareholders received consideration for their shares that Defendants knew was insufficient, and that Defendants personally benefitted from the sale at the expense of BAH’s shareholders.
If you wish to serve as Lead Plaintiff for the Class, you must file a motion with the Court no later than 60 days from today. Accordingly, the deadline for filing a motion for appointment as Lead Plaintiff is June 18, 2018. Any member of the proposed Class may move the Court to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed Class.
If you wish to discuss this lawsuit or have any questions concerning this notice or your rights or interests, please contact Yonaton Aronoff, Esq. by telephone at 917-512-9488, or by email at yaronoff@sc-harris.com.
Harris, St. Laurent & Chaudhry LLP is a boutique trial law firm that routinely handles investor rights cases. Mr. Kelly regularly represents clients in securities litigation.
