Bowlero Corp. Subject to Investigation: Johnson Fistel Seeks Remedies for Investors After the Stock Drop – BOWL
Johnson Fistel, LLP, a shareholder rights law firm, is investigating Bowlero Corp. (“Bowlero” or “the Company”) (NYSE: BOWL) to determine whether investors who suffered significant losses on their investment may be able to recover their losses under federal securities laws.
On May 17, 2023, Bowlero Corp. released its Q3 2023 financial results after the market closed. The results also disclosed information about the effectiveness of Bowlero’s disclosure controls and procedures. The company identified a significant weakness in its financial reporting processes, particularly in areas such as acquisition accounting, fixed asset accounting, and specific financial reporting disclosures. Bowlero also acknowledged the absence of well-designed and maintained controls over system access, which affected the segregation of duties for individuals responsible for the general ledger.
Our firm works on a contingency fee basis which means there will be no cost to you. Contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471.
If you have relevant nonpublic information about the company, consider assisting the investigation or taking advantage of the SEC Whistleblower program. Whistleblowers who provide original information under the SEC program may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.
Contact:
Johnson Fistel, LLP
Jim Baker, Lead Securities Analyst
Telephone: (619) 814-4471
Email: jimb@johnsonfistel.com