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FAT Brands Announces Proposed Settlement of Stockholder Derivative Lawsuits
LOS ANGELES, Aug. 04, 2025 (GLOBE NEWSWIRE) -- FAT (Fresh. Authentic. Tasty.) Brands Inc. (...
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[{"type":"text","content":"FAT Brands Announces Proposed Settlement of Stockholder Derivative Lawsuits\n\n\n\n\n LOS ANGELES, Aug. 04, 2025 (GLOBE NEWSWIRE) --\n \n\n FAT (Fresh. Authentic. Tasty.) Brands Inc.\n \n (NASDAQ: FAT) (the “Company”) announced today that it has entered into a stipulation of settlement to resolve two stockholder derivative lawsuits pending in the Court of Chancery of the State of Delaware (the \"Court\") on behalf of the Company against certain current and former directors and officers of the Company. The stockholder derivative claims were filed in June 2021 (Case No. 2021-0511-NAC, relating to the Company’s December 2020 merger with Fog Cutter Capital Group), and March 2022 (Case No. 2022-0254-NAC, relating to the Company’s June 2021 recapitalization).\n \n\n The settlement will resolve all claims asserted against the named defendants in the derivative lawsuits without any liability or wrongdoing attributed to them personally or the Company. Under the terms of the proposed settlement, the Company’s Board of Directors agreed to adopt and implement certain corporate governance modifications. In addition, the Company’s insurers will pay to the Company $10 million, from which fees and expenses of plaintiffs’ counsel will be deducted, and Fog Cutter Holdings LLC will contribute 200,000 shares of Twin Hospitality Group Inc. (NASDAQ: TWNP), to the Company.\n \n\n The settlement is subject to approval of the Court, and non-objection by the United States.\n \n\n\n\n About FAT (Fresh. Authentic. Tasty.) Brands\n \n\n\n\n FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 18 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Smokey Bones, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit\n \n fatbrands.com\n \n .\n \n\n\n\n Forward Looking Statements\n \...