November 17, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Barrett Business Services, Inc. (NASDAQ:BBSI) shares over potential securities laws violations by Barrett Business Services and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Barrett Business Services, Inc. (NASDAQ:BBSI) concerning whether a series of statements by Barrett Business Services regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Barrett Business Services, Inc. (NASDAQ:BBSI) reported that its annual Total Revenue rose from $532.84 million in 2013 o $636.18 million in 2014 while its Net Income of $17.89 million declined to a Net Loss of $27.08 million in 2014.

Shares of Barrett Business Services, Inc. (NASDAQ:BBSI) grew from $21.38 per share in late 2014 to as high as $53.00 per share on November 9, 2015.

On November 9, 2015, Barrett Business Services, Inc. (NASDAQ: BBSI) reported that the audit committee of its board of directors has received a letter from Barrett Business Services independent registered public accounting firm, Moss Adams LLP. The letter notifies BBSI that Moss Adams' completed interim review of BBSI's unaudited interim consolidated financial statements as of June 30, 2014, and for the periods then ended, can no longer be relied upon, and indicates that Moss Adams will not be in a position to complete its required review of BBSI's quarterly financial statements at September 30, 2015, by the filing due date.
Barrett Business Services, Inc. said that in connection with receipt of the letter, the audit committee has engaged Stoll Berne as independent legal counsel to conduct an independent investigation regarding BBSI's workers' compensation reserve for the quarter ended June 30, 2014 and that Moss Adams states in its letter that it has become aware of information indicating that an illegal act has or may have occurred with respect to BBSI's workers' compensation expense reserve as reported in the Form 10-Q filing as of June 30, 2014.

Shares of Barrett Business Services, Inc. (NASDAQ:BBSI) declind to as low as $34.00 per share on November 10, 2015.