NEW YORK CITY, NY / ACCESS Newswire / August 15, 2025 / BigBear.ai Holdings, Inc. (NYSE:BBAI)
Lifshitz Law PLLC announces investigation into possible securities laws violations and/or breaches of fiduciary duties in connection with allegations that the Company made materially false and/or misleading statements and/or failed to disclose to investors material information. In June 2021, BigBear.ai Holdings entered into a merger agreement with GigCapital4, Inc., a special purpose acquisition company, GigCapital4 Merger Sub Corporation, and BBAI Ultimate Holdings. Pursuant to the Merger Agreement, Merger Sub Corporation first merged with and into BigBear.ai Holdings, with BigBear.ai Holdings being the surviving entity in the merger. Then BigBear.ai Holdings merged with and into GigCapital4, with GigCapital4 being the surviving entity in the merger. On December 7, 2021, the Mergers were consummated and GigCapital4, Inc. was renamed as BigBear.ai Holdings, Inc.
Upon completion of the Business Combination, BigBear issued $200 million of unsecured convertible notes-debt instruments that can be converted into equity at a future date-due to mature on December 15, 2026 (the "2026 Notes"). Convertible notes are often classified as long-term debt and as such, consistent with generally accepted accounting principles ("GAAP"), they must be accounted for in a company’s quarterly and annual reports as liabilities until they reach maturity, at which point they either convert to equity or are repaid as principal and interest.
Allegedly, the Company made false and/or misleading statements and/or failed to disclose that: (1) BigBear maintained deficient accounting review policies related to the reporting and disclosure of certain non-routine, unusual, or complex transactions; (2) as a result, the Company incorrectly determined that the conversion option within the 2026 Convertible Notes qualified for the derivative scope exception under ASC 815-40 and failed to bifurcate the conversion option as required by ASC 815-15; (3) accordingly, BigBear had improperly accounted for the 2026 Convertible Notes; (4) the foregoing error caused BigBear to misstate various items in several of the Company’s previously issued financial statements; (5) as a result, these financial statements were inaccurate and would likely need to be restated; (6) BigBear would require extra time and expense to correct the inaccurate financial statements, thereby increasing the risk that the Company would be unable to timely file certain financial reports with the U.S. Securities and Exchange Commission; and (7) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you are a BBAI investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at info@lifshitzlaw.com.
Zenas BioPharma, Inc. (NASDAQ:ZBIO)
Lifshitz Law PLLC announces investigation into possible securities laws violations and/or breaches of fiduciary duties in connection with allegations that the Company made materially false and/or misleading statements and/or failed to disclose to investors material information. On August 22, 2024, Zenas BioPharma filed with the SEC a Registration Statement on Form S-1, which in combination with a subsequent amendment on Form S-1/A, and which was declared effective by the SEC on September 12, 2024, would be used for the IPO. In the IPO, Zenas BioPharma sold 13,235,294 shares at $17.00 per share. Specifically, the registration statement allegedly contained false and/or misleading statements and/or failed to disclose that: 1) Zenas BioPharma materially overstated the amount of time it would be able to fund its operations using existing cash and expected net proceeds from the IPO; and (2) as a result, the Company’s public statements were materially false and misleading.
If you are a ZBIO investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at info@lifshitzlaw.com.
Avis Budget Group, Inc. (NYSE:CAR)
Lifshitz Law PLLC announces investigation into possible securities laws violations and/or breaches of fiduciary duties in connection with allegations that the Company made materially false and/or misleading statements and/or failed to disclose to investors material information. Specifically, the Company allegedly made false and/or misleading statements and/or failed to disclose that: (1) Avis Budget crafted and implemented a plan to significantly accelerate its fleet rotation in the fourth quarter of 2024; (2) the foregoing acceleration shortened the useful life of the majority of the Company’s vehicles in the Americas segment, thereby reducing their recoverable value; (3) as a result, Avis Budget would be forced to recognize billions of dollars in impairment charges and incur substantial losses; (4) all the foregoing was likely to, and did, have a significant negative impact on the Company’s financial results; (5) accordingly, Avis Budget’s financial and/or business prospects were overstated; and (6) as a result, the Company’s public statements were materially false and misleading.
If you are a CAR investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at info@lifshitzlaw.com.
Open Lending Corporation (NASDAQ:LPRO)
Lifshitz Law PLLC announces investigation into possible securities laws violations and/or breaches of fiduciary duties in connection with allegations that the Company made materially false and/or misleading statements and/or failed to disclose to investors material information. Specifically, the Company allegedly: (1) misrepresented the capabilities of the Company’s risk-based pricing models; (2) issued materially misleading statements regarding the Company’s profit share revenue; (3) failed to disclose the Company’s 2021 and 2022 vintage loans had become worth significantly less than their corresponding outstanding loan balances; (4) misrepresented the underperformance of the Company’s 2023 and 2024 vintage loans; and (5) as a result of the foregoing, the Company’s positive statements about its business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you are an LPRO investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at info@lifshitzlaw.com.
ATTORNEY ADVERTISING.© 2025 Lifshitz Law PLLC. The law firm responsible for this advertisement is Lifshitz Law PLLC, 1190 Broadway, Hewlett, New York 11557, Tel: (516)493-9780. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact:
Joshua M. Lifshitz, Esq.
Lifshitz Law PLLC
Phone: 516-493-9780
Facsimile: 516-280-7376
Email: jlifshitz@lifshitzlaw.com
SOURCE: Lifshitz Law Firm
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