Pomerantz Law Firm Announces Filing of Class Action Lawsuit Against FAT Brands, Inc. – FAT

NEW YORK, July 2, 2024 /PRNewswire/ — Pomerantz LLP announces that a class action lawsuit has been filed against FAT Brands, Inc. (“Fat Brands” or the “Company”) (NASDAQ: FAT). Investors are advised to contact Danielle Peyton has (protected email) or 646-581-9980 (or 888.4-POMLAW), toll-free, ext. 7980. Persons inquiring by e-mail are encouraged to include their mailing address, telephone number and number of shares purchased.

The class action lawsuit concerns whether Fat Brands and certain of its officers and/or directors engaged in securities transactions. fraud or other illegal business practices.

You have until August 6, 2024to ask the court to appoint you as lead plaintiff for the class if you are a shareholder who purchased or otherwise acquired Fat Brands securities during the Class Period. A copy of the complaint may be obtained fromat www.pomerantzlaw.com.

(Click here for information on how to join the class action)

On May 10, 2024, United States Central District Prosecutor’s Office California issued a press release stating, in relevant part, that the majority shareholder and former CEO of Fat Brands André Wiederhorn (“CEO”), along with the company’s former chief financial officer (“CFO”) Hershinger and a tax advisor, had “been indicted on federal charges alleging a scheme to conceal $47 million in distributions (Wiederhorn) received in the form of shareholder loans from the IRS, FAT minority shareholders and the general investing public (.)” On the same day, the U.S. Securities and Exchange Commission filed a civil action against Fat Brands, CEO Wiederhorn and CFO Hershinger, in connection with the same alleged misconduct.

Following this news, Fat Brands’ stock price fell $2.08 per share, or 27.73%, to close at $5.42 per action on May 10, 2024.

Pomerantz LLP, with offices in new York, Chicago, Los Angeles, London, ParisAnd Tel Avivis recognized as a leading law firm in the areas of corporate, securities and antitrust class action litigation. Founded by the late Abraham L. PomerantzKnown as the dean of the class action bar, Pomerantz was a pioneer in the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he established, fighting for the rights of victims of securities class actions. fraudbreaches of fiduciary duty and professional malpractice. The firm has recovered billions of dollars in damages on behalf of class members. See www.pomlaw.com.

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CONTACT:
Danielle Peyton
Pomerantz LLP
(protected email)
646-581-9980 ext. 7980

SOURCE Pomerantz LLP