Shareholder rights law firm Robbins LLP is investigating Bowlero Corp. (NYSE: BOWL) to determine whether certain Bowlero officers and directors violated securities laws and breached fiduciary duties to shareholders in connection with allegations that the Company engaged in sexual harassment, age discrimination, and retaliation. Bowlero Corp. operates bowling entertainment centers under the AMF, Bowlmor Lanes, and Bowlero brand names.
Bowlero Corp. (BOWL) is the Subject of a Federal Investigation for Age Discrimination and Retaliation
According to a CNBC article published on May 11, 2023, Bowlero is the subject of a sprawling federal investigation into age discrimination and retaliation that authorities now want to settle for $60 million. Negotiations over the settlement, proposed by the U.S. Equal Employment Opportunity Commission in early January, failed in April and the case is being referred to the EEOC’s general counsel “for potential enforcement action,” a letter sent by the EEOC shows.
The EEOC’s probe into Bowlero, the world’s largest owner and operator of bowling centers, is wide-ranging and has been ongoing since 2016, company filings with the Securities and Exchange Commission show. It involves at least 73 former employees who claim they were fired based on their age, or out of retaliation, according to the filings. The company disclosed in the filings that EEOC’s investigation resulted in a determination of reasonable cause that Bowlero has been engaging in a “pattern or practice” — a term that indicates systemic issues — of age discrimination since at least 2013, which Bowlero denies.
Bowlero CEO Thomas Shannon is accused of hosting “obvious beauty contests” with prospective hires over brief video calls to evaluate a candidate’s appearance as part of the hiring process, according to a complaint filed by a former employee and a sworn affidavit filed by another staffer to the EEOC. Among staff, the top executive was also known to make condescending jokes about women, off-handed remarks that were “racially motivated” and negative comments about LGBTQ people, the affidavit says. Some female employees didn’t openly disclose their marital status or their pregnancies out of fear of losing their jobs, the former HR employee told the EEOC.
Bowlero Corp. (BOWL) shareholders have legal options. If you own shares of Bowlero Corp. or have incurred a recent significant loss in the stock, contact us for more information about your rights.
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