BOSTON, May 18, 2023 (GLOBE NEWSWIRE) -- Block & Leviton is investigating Bowlero Corp. (NYSE: BOWL) for potential securities law violations. Investors who have lost money in their Bowlero Corp. investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/bowl.
What is this all about?
After the market closed on May 17, 2023, Bowlero Corp., announced Q3 2023 financial results. As part of those results, Bowlero disclosed that its disclosure controls and procedures were not effective because of a material weakness related to certain financial reporting processes, including acquisition accounting, accounting for fixed assets, and certain financial reporting disclosures. 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.”
Shares of Bowlero Corp. stock dropped more than 20% in early intraday trading after the market opened on May 18, 2023.
Who is eligible?
Anyone who purchased Bowlero Corp. stock and has lost money may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.
What is Block & Leviton doing?
Block & Leviton is investigating whether the Company committed securities law violations and may file an action to attempt to recover losses on behalf of investors who have lost money.
What should you do next?
If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at cases@blockleviton.com, or by phone at (617) 398-5600.
Why should you contact Block & Leviton?
Many law firms have issued releases about this matter; most of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email cases@blockleviton.com with any questions.
This notice may constitute attorney advertising.
CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockleviton.com
SOURCE: Block & Leviton LLP
www.blockleviton.com
