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SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of FAT Brands
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In FAT...
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[{"type":"text","content":"\nSHAREHOLDER ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of FAT BrandsSecurities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In FAT Brands To Contact Him Directly To Discuss Their OptionsIf you purchased or acquired securities in FAT Brands between March 24, 2022 and May 10, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/FAT.New York, New York--(Newsfile Corp. - July 24, 2024) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against FAT Brands Inc. (\"FAT Brands\" or the \"Company\") (NASDAQ: FAT) (NASDAQ: FATBB) (NASDAQ: FATBP) (NASDAQ: FATBW) and reminds investors of the August 6, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Defendants failed to disclose that Andrew A. Wiederhorn, the Company's Chairman and former CEO, had received improper payments from the Company, exposing Fat Brands to criminal liability and; (2) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.On May 10, 2024, the United States Attorney's Office for the Central District of California issued a press release entitled \"Former CEO and Controlling Shareholder of FAT Brands Inc., Former CFO, and a Tax Advisor Indicted in Alleged Scheme to Conceal $47 Million Paid to CEO in the Form of Shareholder Loans.\" The press release stated that \"Andrew A. Wiederhorn, the former CEO and current controlling shareholder of the publicly traded Fat Brands Inc. (FAT), has been indicted on federal charges alleging a scheme to conceal $47 million in distributions he rec...