Beyond Meat Warns of ‘Material Weakness’ in Financial Reporting

Beyond Meat Inc. said it expects to report “a material weakness” in its financial controls and delayed the release of its quarterly earnings for a second time.

The struggling plant-based meat company said in a filing Friday that the weakness is related to “controls associated with the accounting for non-recurring and complex transactions.” Beyond Meat “preliminarily concluded” that it lacks the resources “to effectively evaluate and determine the proper recording of such transactions” and is working on a remediation plan.

The company recently announced a debt swap with the issuance of more than 300 million new shares — a plan ...