BBSI Fined for Accounting Fraud
BBSI, the PEO known officially as Barrett Business Services Inc. (Nasdaq: BBSI), agreed to pay a $1.5 million fine to end a Securities and Exchange Commission investigation into its filing …
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FLASH: BBSI CFO Indicted
The former chief financial officer for the PEO BBSI, know formerly as Barrett Business Services Inc. (Nasdaq: BBSI), James Douglas Miller, is being charged with four counts of making false …
BBSI Pays Shareholders in Class Action
Barrett Business Services (Nasdaq: BBSI) has agreed to settle a shareholder class action lawsuit for $12 million. The consolidated shareholder lawsuits followed BBSI’s disclosure in the fall of 2014 that …
BBSI Files 2Q Report On Time
Barrett Business Services (Nasdaq: BBSI) managed to keep the company in compliance with Nasdaq’s listing requirements by filing its second quarter 2016 report in a timely fashion. Such an event is news because it’s been so late for so long. The report shows that BBSI’s net revenues increased 12%, but its net income dropped 4.5% …
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BBSI Under Criminal Investigation by Justice Department
The United States Department of Justice is conducting a criminal investigation of Barrett Business Services, Inc., (Nasdaq: BBSI). Exactly what federal prosecutors are looking for has not been announced, but there are multiple avenues that it could be pursuing. Among them the stated reasons for its traditional declines in first quarter profits. Moss Adams, BBSI’s …
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BBSI Still Facing Delisting – Files 2015 10K
Barrett Business Services (Nasdaq: BBSI) filed its tardy financial reports for the third and fourth quarters of 2015, as well as restatements for earlier periods due to correct accounting errors, but is not yet out of the dog house with Nasdaq. The professional employer organization (PEO) is still late filing its first quarter report for …
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BBSI Facing Delisting
Barrett Business Services Inc. (Nasdaq: BBSI), the troubled PEO, is facing not only the prospect of having its stock delisted from the Nasdaq exchange but potential trouble with its lenders. …
BBSI Audit Finds Troubling Problems
A forensic audit by an outside auditor found additional instances of improper financial journal entries by the Barrett Business Services Inc. (Nasdaq: BBSI). The latest questions about the company’s financial reporting and accounting practices follow BBSI’s disclosures in 2014 that it had under reserved its workers’ comp liabilities by 62%. It had to borrow money …
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