NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, reminds purchasers of
FAT Brands Inc. (NASDAQ: FAT) securities pursuant and/or traceable to
FAT Brands’ initial public offering (“IPO”) conducted on or around
October 23, 2017 of the important October 23, 2018 lead plaintiff
deadline in the class action. The lawsuit seeks to recover damages for
FAT Brands investors under the federal securities laws.
To join the FAT Brands class action, go to https://www.rosenlegal.com/cases-1360.html
or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at
866-767-3653 or email [email protected]
or [email protected]
for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS
CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU
MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS
MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN
ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD
According to the lawsuit, defendants during the Class Period made
materially false and/or misleading statements and/or failed to disclose
that: (1) FAT Brands’ sales growth had significantly declined; (2) sales
growth at Ponderosa & Bonanza was significantly below the level which
FAT Brands had believed when it agreed to acquire those brands in March
2017; (3) the fast-casual dining sector was saturated and facing
significant headwinds and a slowdown in growth, largely caused by
customers fleeing to lower cost and quicker options; (4) FAT Brands’
free cash flow was less than its annual $5 million dividend obligations;
(5) the Wiederhorn family planned to merge Fog Cutter Capital Group Inc.
into FAT Brands following the IPO; (6) Fog Cutter Capital and the
Wiederhorn family that owned it had already once run Fog Cutter
Capital/Fatburger into bankruptcy, resulting in its stock being delisted
after attempting to go on an acquisition spree, much like the spree they
were undertaking at FAT Brands at the time of the IPO; and (7) as a
result, FAT Brands’ public statements were materially false and
misleading at all relevant times. When the true details entered the
market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as
lead plaintiff, you must move the Court no later than October 23, 2018.
A lead plaintiff is a representative party acting on behalf of other
class members in directing the litigation. If you wish to join the
litigation, go to https://www.rosenlegal.com/cases-1360.html
or to discuss your rights or interests regarding this class action,
please contact Phillip Kim, Esq. or Zachary Halper, Esq. of Rosen Law
Firm toll free at 866-767-3653 or via e-mail at [email protected]
or [email protected].
Attorney Advertising. Prior results do not guarantee a similar outcome.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm
or on Twitter: https://twitter.com/rosen_firm.
Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class
Action Services for number of securities class action settlements in
2017. The firm has been ranked in the top 3 each year since 2013.
The Rosen Law Firm, P.A.
Laurence Rosen, Esq.
Phillip Kim, Esq.
275 Madison Avenue, 34th Floor
York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653