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FAT.US
id: 456
The settlement funds have been distributed to claimants.
$3,000,000
Cash Settlement
C.D. California
Court
12/04/2017
Class period Start
02/18/2022
Class period End
01/28/2023
Claim deadline

In re: FAT Brands Inc. Securities Litigation

FAT Brands Inc. (FAT) agreed to pay $3 million to settle a securities class action lawsuit to avoid further litigation.

Those who purchased FAT Brands Inc. publicly-traded securities from December 4, 2017, through February 18, 2022, both dates inclusive, could get a payment from a proposed class action settlement.

The Complaint alleged that the Company and its Leaders made false and/or misleading statements and/or failed to disclose that:

  • the Company and certain executives engaged in transactions “for no legitimate corporate purpose”;

  • the Company ignored warning signs relating to transactions with certain executives;

  • the Company was likely to face increased scrutiny, investigations, and other potential issues;

  • certain executives, who are touted as critical to the Company’s success, were at great risk of scrutiny—potentially, at least in part, due to the Company’s actions;

  • the Company’s touted CEO and COO were under investigation regarding transactions with the Company.

Case Status
Disbursed
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Plaintiffs
Robert J. Matthews, Michael Melendez
Attorneys
Bronstein, Gewirtz & Grossman, LLC (New York, NY), Pomerantz LLP (New York, NY), The Rosen Law Firm, P.A. (Los Angeles, CA)
Judge
Hon. Mark C. Scarsi
Administrator
Strategic Claims Services
Court hearing date
02/28/2023
Trades matching type
FIFO