Lee Enterprises Swaps Auditors, Taps Grant Thornton After BDO Exit
LEE has more than doubled off its 52-week low of $3.34.
Summary
Lee Enterprises rotated auditors, dismissing BDO USA and appointing Grant Thornton LLP effective after the fiscal 2026 audit. The filing also discloses a previously remediated material weakness in internal controls from fiscal 2024.
Key Events · Corporate Governance and Compliance · LEE
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Auditor Rotation Announced
The Audit Committee approved the dismissal of BDO USA, P.C. effective upon completion of the fiscal 2026 audit and filing of the Form 10-K, and appointed Grant Thornton LLP as successor for the fiscal year ending September 26, 2027.
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Prior Material Weakness Disclosed
A material weakness in internal control over financial reporting existed through June 23, 2024, related to controls over internally generated information and third-party service provider data for certain revenue transactions; it was remediated as of September 29, 2024.
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No Disagreements or Unresolved Reportable Events
BDO's reports for fiscal 2025 and 2024 contained no adverse opinions or disclaimers, and no disagreements or reportable events were identified during the two most recent fiscal years and subsequent interim period, except for the remediated material weakness.
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BDO Concurs with Disclosures
BDO furnished a letter dated September 3, 2026, agreeing with the statements made in the Item 4.01 disclosure insofar as they relate to BDO.
Analysis · LEE · Manufacturing
Following a competitive evaluation, Lee Enterprises dismissed BDO USA as its independent auditor effective after the fiscal 2026 audit and appointed Grant Thornton LLP for fiscal 2027. The filing also reveals a previously remediated material weakness in internal control over financial reporting that existed through June 23, 2024, tied to controls over internally generated information and third-party service provider data for certain revenue transactions. Although the weakness was remediated as of September 29, 2024, its disclosure alongside an auditor rotation is a governance red flag that warrants attention. No disagreements or unresolved reportable events were cited between the company and BDO.
How filings like this one have moved
In the 30 days to Sep 9, 2026, 36.4% of the 1919 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, LEE was trading at $7.57 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $168.8M. The 52-week trading range was $3.34 to $11.88. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.