said it received purported notices of default from law firms that say they represent some of the company's debtholders, but the consulting firm disputed the validity of the claims.
The attorneys say they're counsel for some of the holders of the $200 million Series B convertible subordinated debentures and the $250 million Series A convertible subordinated debentures.
The law firms essentially contend that BearingPoint, based in McLean, Va., has defaulted because it failed to make certain filings with the
Securities and Exchange Commission
in a timely fashion.
BearingPoint, the former KPMG Consulting, wasn't going along with that thinking.
"We believe these notices are invalid and completely without merit," the company said Friday. "It is our view that there is no requirement in the
debentures for BearingPoint to file its annual and quarterly reports within the deadlines set forth in the SEC's rules and regulations."
Shares of BearingPoint were down 4 cents at $8.19.