According to the law firm press release, Barrett Business Services, Inc. ("BBSI" or the Company) provides a variety of business management solutions for small and medium-sized companies in the United States.

The Complaint alleges that Defendants made false and/or misleading statements and failed to disclose material adverse facts about the Company’s operations and financial performance and prospects. Specifically, the Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company under accrued its self-insured workers’ compensation reserves; (2) as a result, the Company overstated its earnings; (3) the Company lacked adequate internal and financial controls; and (4), as a result of the foregoing, Defendants’ statements were materially false and misleading at all relevant times.

On October 28, 2014, BBSI disclosed that it had a $37.8 million net loss for its 2014 fiscal third quarter. The Company attributed the loss to an $80 million pretax increase in workers’ compensation reserves, which effectively wiped out Barrett Business Services’ pretax earnings for the past five years. As a result of this news, the Company’s stock declined more than 58%, or $26.18 per share, to close at $18.28 per share on October 29, 2014, on unusually heavy volume.

A consolidated Complaint was filed on April 29, 2015. This Complaint was amended on November 23. A second amended Complaint was filed on March 21, 2016.

A Stipulation of Settlement was filed on October 28, 2016. The Settlement was preliminarily approved by the Court on November 7. On February 22, 2017, the Court granted final approval of the Settlement and entered Final Judgment.

On April 10, 2018, the Court issued an Order approving the distribution plan for the Net Settlement Fund.