|Company Name||Bowlero Corp.|
On May 17, 2023, Bowlero released its third quarter 2023 financial results, and disclosed a material weakness related to certain financial reporting processes, including acquisition accounting, accounting for fixed assets, and certain financial reporting disclosures.
On this news, Bowlero’s stock price fell $2.35, or 16.7%, to close at $11.71 per share on May 18, 2023, thereby injuring investors.
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