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BOWL.US
id: 944, Created by , Scout

Bowlero (BOWL) Financial Reporting Case

  • In May, Bowlero disclosed material weakness in certain financial reporting processes.
  • On it, $BOWL fell 16.7%, losing $218M+ shareholder value.
  • Investors may have grounds to suspect Bowlero of hiding reporting setbacks, which led to their losses.
On May 17, 2023, Bowlero (BOWL) released Q3 2023 financial results and disclosed a material weakness related to certain financial reporting processes. Processes included acquisition accounting, accounting for fixed assets, and certain financial reporting disclosures.

On this news, $BOWL fell 16.7% and lost over $218 million of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect that Bowlero failed to timely disclose reporting weaknesses, which consequently led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
18 May 2023
Collecting participants…

Bowlero Corp

Bowlero Corp. operates bowling entertainment centers under the AMF, Bowlmor Lanes, and Bowlero brand names. The company also provides hosting and overseeing professional and non-professional bowlin...

    Ticker
    BOWL.US
    ISIN
    US10258P1021
    CIK
    1840572
    Sector
    Consumer Cyclical
    Industry
    Leisure
    Country
    USA
    Address
    7313 Bell Creek Road, Mechanicsville, VA, United States, 23111