NEW YORK, July 03, 2024 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Bridger Aerospace Group Holdings, Inc. (Bridger or the Company) (NASDAQ: BAER) on behalf of Bridger stockholders. Our investigation concerns whether Bridger has violated the federal securities laws and/or engaged in other unlawful business practices.
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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.
If you purchased or otherwise acquired Bridger shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
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