New York, New York--(Newsfile Corp. - May 20, 2023) - WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Bowlero Corp. (NYSE: BOWL) resulting from allegations that Bowlero may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Bowlero securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=16350 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
WHAT IS THIS ABOUT: On May 17, 2023, after market hours, Bowlero, announced its 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. Bowlero also noted, "[a]dditionally, 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."
On this news, Bowlero's stock price fell $2.35 per share, or 16%, to close at $11.71 per share on May 18, 2023.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
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Attorney Advertising. Prior results do not guarantee a similar outcome.
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
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Original Source of the original story >> GLOBALLY RECOGNIZED ROSEN LAW FIRM Encourages Bowlero Corp. Investors to Inquire About Securities Class Action Investigation - BOWL