Booz Allen Hamilton Holding Corporation, through its subsidiary, is an American management and information technology consulting firm with offices around the world.
According to the Complaint, on or about the 31st day of July 2012, the Defendant passed a corporate resolution declaring a large special dividend on common stock in an amount of $6.50 per share payable to common shareholders of record and further passed a resolution for a regular dividend of $0.09 on August 13, 2012. The Plaintiffs' shares were owned on August 13, 2012, but they did not receive the aforesaid dividends by reason of the negligence of the Defendant alleged hereinafter.
Thereafter, the Defendant was further and additionally negligent, grossly negligent, wanton and reckless when for its own advantage and that of its executives, it continued with the aforesaid resolution, changed the resolutions applicable dates in an improper, unusual confusing manner, and further and additionally, failed to timely or properly advise shareholders of the aforesaid changes, published the changes when it knew or should have known widespread misleading market confusion would be and was caused, thereby damaging shareholders and buyers, like the Plaintiffs, who would and did sell or buy stock; placed its own interests and the interests of its executives over the interests of the shareholders and further failed to directly notify shareholders and the public clearly and properly, and it did so without any clear directions or provisions or any proper clear notice of the dates on which a seller had to retain the stock to obtain the dividends, and thereby caused widespread market confusion, loss to the Plaintiffs and other holders of their stock to whom they owed a fiduciary duty not to act in their own interest to cover their error by these means.
On November 1, 2013, a Stipulated Notice of Voluntary Dismissal pursuant to Rule 41(a)(1)(A)(ii) of the Federal Rules of Civil Procedure was filed by the parties.