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FAT Brands Inc (NASDAQ: FAT) Investor Securities Class Action Lawsuit

  • If you purchased shares of FAT Brands Inc (NASDAQ: FAT), you have certain options. Please contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
FAT Brands Inc
Security
NASDAQ: FAT

Case Name
FAT Brands Shareholder Class Action Lawsuit
Type of Lawsuit
Shareholder Class Action
Class Period Begin
Class Period End
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Summary

October 9, 2020 - The case was settled in part with certain defendants and was in part dismissed.
March 13, 2020 - The court denied the class certification.

December 27, 2019 - A motion for class certification was filed.

December 17, 2019 - The court granted in part and denying in part the defendants' motion to dismiss the second amended complaint.

September 9, 2019 - A motion to dismiss the second amended complaint was filed.

August 5, 2019 - A second amended complaint was filed.

June 14, 2019 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.

March 19, 2019 - A motion to dismiss the amended complaint was filed.

January 15, 2019 - An amended complaint was filed.

August 24, 2018 - An investor, who purchased shares of FAT Brands Inc (NASDAQ: FAT), filed a lawsuit over alleged violations of Securities Laws by FAT Brands Inc in connection with the company’s initial public offering (“IPO”).

Beverly Hills, CA based FAT Brands Inc. is a restaurant franchising company that develops, markets, and acquires fast casual restaurant concepts around the world. As of March 26, 2017, the Company operated the Fatburger, Buffalo’s Cafe and Buffalo’s Express restaurant concepts. FAT Brands Inc went public in October 2017 and shares of FAT Brands Inc (NASDAQ:FAT) reached in the open market as high as $11.99 per share on October 26, 2017. In late December 2017, FAT Brands Inc (NASDAQ:FAT) shares declined to as low as $7.52 per share.

According to the complaint the plaintiff alleges, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that at the time of the IPO, FAT Brands Inc failed to disclose that the Company’s free cash flow was insufficient to cover its dividend, and that its sales growth had declined markedly.