Faceless Research Group Questions PEO's Financial Stability

An investment research group identified only by a pseudonym has publicly questioned the workers' compensation claims reserves of Barrett Business Services, possibly contributing to a 29% tumble in the company's stock price. Copperfield Research posted a 32-page report online on the stock market analysis website SeekingAlpha accusing the professional employer organization of violating generally accepted accounting principles, under-reserving and overstating its income. While Barrett is a PEO, the report said investors should treat the self-insured company as an insurance carrier a...