San Diego, CA -- (SBWIRE) -- 05/31/2023 -- Bowlero Corp. is under investigation over potential securities laws violations in connection with certain financial statements.

Investors who purchased shares of Bowlero Corp. (NYSE: BOWL), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Bowlero Corp. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Mechanicsville, VA based Bowlero Corp. operates bowling entertainment centers under the AMF, Bowlmor Lanes, and Bowlero brand names. 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. Bowlero Corp. 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. (NYSE: BOWL) declined to $11.01 per share on May 18, 2023.

Those who purchased shares of Bowlero Corp. (NYSE: BOWL) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.