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FAT.US
id: 456
It is still possible to file a late claim. The court will decide whether to accept late claims or not.
C.D. California
Court
04 Dec 2017
Class period Start
18 Feb 2022
Class period End
28 Jan 2023
Claim deadline
In re: FAT Brands Inc. Securities Litigation

FAT Brands Inc. (FAT) agreed to pay $3 million to settle a securities class action lawsuit to avoid further litigation.

Those who purchased FAT Brands Inc. publicly-traded securities from December 4, 2017, through February 18, 2022, both dates inclusive, could get a payment from a proposed class action settlement.

The Complaint alleged that the Company and its Leaders made false and/or misleading statements and/or failed to disclose that:
  • the Company and certain executives engaged in transactions “for no legitimate corporate purpose”;
  • the Company ignored warning signs relating to transactions with certain executives;
  • the Company was likely to face increased scrutiny, investigations, and other potential issues;
  • certain executives, who are touted as critical to the Company’s success, were at great risk of scrutiny—potentially, at least in part, due to the Company’s actions;
  • the Company’s touted CEO and COO were under investigation regarding transactions with the Company.
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Plaintiffs
Robert J. Matthews, Michael Melendez
Attorneys
Bronstein, Gewirtz & Grossman, LLC (New York, NY), Pomerantz LLP (New York, NY), The Rosen Law Firm, P.A. (Los Angeles, CA)
Judge
Hon. Mark C. Scarsi
Administrator
Strategic Claims Services
Court hearing date
28 February 2023
+$3,000,000
Cash Settlement Amount

FAT Brands Inc

FAT Brands Inc., a multi-brand restaurant franchising company, acquires, develops, markets, and manages quick service, fast casual, casual dining, and polished casual dining restaurant concepts wor...

    Ticker
    FAT.US
    ISIN
    US30258N1054
    CIK
    1705012
    Sector
    Consumer Cyclical
    Industry
    Restaurants
    Country
    USA
    Address
    9720 Wilshire Boulevard, Beverly Hills, CA, United States, 90212