Long Island law firm Lifshitz & Miller announced an investigation into possible breaches of fiduciary duties by the board of directors for professional employer organization Barrett Business Services Inc., which announced last month that an increase in workers' compensation reserves wiped out five years of profits.
BBSI on Oct. 28 announced an $80 million increase in its workers' compensation reserves. As a result, the company reported a net loss of $37.8 million in the third quarter of 2014.
BBSI stock prices dropped 59% from $44.68 on Oct. 28 to close at $18.28 the next day...
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