Beyond Meat Delays 10-Q, Expects to Report Material Weakness

Beyond Meat said it will miss the deadline for its third-quarter 10-Q filing as it works to finalize a material non-cash impairment charge and address a newly identified weakness in its internal controls.

• Expects to file the Form 10-Q no later than Nov. 12
  • Company is not yet able to reasonably quantify the amount
  • Requires additional time to finalize its assessment
• Expects to report that a material weakness in the company’s internal control over financial reporting existed as of Sept. 27
  • Related to controls associated with the accounting for non-recurring and complex transactions
  • Management has preliminarily concluded that inadequate technical ...