The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Bowlero Corp. (“Bowlero” or “the Company”) (NYSE: BOWL) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Bowlero announced its Q3 2023 financial results on May 17, 2023. The Company disclosed as part of its results that it had failed to maintain appropriate controls over financial reporting related to, among other things, acquisitions and fixed assets. The Company also noted, “Additionally, we did not design and maintain effective controls over system access controls to establish segregation of duties for those with roles and responsibilities for the general ledger.” Based on this news, shares of Bowlero fell more than 15% in intraday trading on May 18, 2023.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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