UPCOMING DEADLINE ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against FAT Brands Inc. & Encoura...
October 15 2018 - 5:22PM
Business Wire
The Schall Law Firm, a national shareholder rights litigation
firm, announces the filing of a class action lawsuit against FAT
Brands Inc. ("FAT Brands" or the "Company") (NASDAQ: FAT) for
violations of §§10(b) and 20(a) of the Securities Exchange Act of
1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities
and Exchange Commission.
Investors who purchased the Company's shares pursuant and/or
traceable to the Company’s initial public offering (“IPO”) on or
around October 23, 2017, are encouraged to contact the firm before
October 23, 2018.
If you are a shareholder who suffered a loss, click here to
participate.
We also encourage you to contact Brian Schall, or Sherin
Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite
404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights
free of charge. You can also reach us through the firm's website
at www.schallfirm.com, or by email
at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until
certification occurs, you are not represented by an attorney. If
you choose to take no action, you can remain an absent class
member.
According to the Complaint, the Company made false and
misleading statements to the market. FAT Brands’ overall sales
growth had declined considerably. In particular, sales growth at
Bonanza and Ponderosa restaurants were quite slower than what FAT
Brands expected when it acquired the brands in early 2017. The
fast-casual dining concept favored by the Company was facing
saturation as well as pressure to keep customers from going to
lower cost restaurants. At the same time, FAT Brands’ free cash
flow was lower than the $5 million dividend obligations the Company
faced. Based on these facts, the Company’s public statements were
false and materially misleading at the time of the IPO. When the
market learned the truth about FAT Brands, investors suffered
damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and
specializes in securities class action lawsuits and shareholder
rights litigation.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and rules of
ethics.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181015005938/en/
The Schall Law FirmBrian Schall, Esq.,Sherin Mahdavian,
Esq.,www.schallfirm.com310-301-3335info@schallfirm.com
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