What are the risks associated with the substantial costs and diversion of personnel's attention and resources due to accounting matters and related litigation for Ledgers?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
Because forward-looking statements involve risks and uncertainties and speak only as of the date on which they are made, actual events or results could differ materially from those discussed in the forward-looking statements as a result of various factors, including but not limited to loss of key personnel or inability to engage accounting personnel as needed; inability to address the previously disclosed accounting matters; identification of additional material weaknesses or significant deficiencies; disagreements or additional reportable events that KPMG may identify in a letter addressed to the SEC pursuant to Item 304 of Regulation S-K; failure to engage an independent accounting firm, complete the audits and re-audits and file any required restatements and periodic reports; adverse effects resulting from the Company's common stock being delisted from the Nasdaq Stock Market LLC; risks relating to the substantial costs and diversion of personnel's attention and resources due to these matters and related litigation and other factors discussed in greater detail in the Company's filings with the SEC.
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers's 2025 Franchise Disclosure Document, there are risks relating to the substantial costs and diversion of personnel's attention and resources due to accounting matters and related litigation. These risks could lead to materially different events or results than expected.
Specifically, the forward-looking statements included in Item 22 are based on the current expectations, estimates, projections, beliefs, and assumptions of the company's management. However, there is no guarantee that these expectations will be correct. Actual events or results could differ significantly from those discussed in these forward-looking statements.
These differences may arise from various factors, including the loss of key personnel or the inability to engage accounting personnel as needed, the inability to address previously disclosed accounting matters, the identification of additional material weaknesses or significant deficiencies, disagreements or additional reportable events that KPMG may identify in a letter addressed to the SEC, failure to engage an independent accounting firm, complete the audits and re-audits and file any required restatements and periodic reports, and adverse effects resulting from the company's common stock being delisted from the Nasdaq Stock Market LLC.