Faruqi & Faruqi, LLP investigates claims on behalf of investors of FAT Brands

NEW YORK, June 10, 2024 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against FAT Brands Inc. (“FAT Brands” or the “Company”) (NASDAQ: FAT, FATBB, FATBP, FATBW) and reminds investors of the 6 August 2024 Deadline to serve as lead plaintiff in a federal securities class action lawsuit filed against the Company.

James (Josh) Wilson, securities litigation partner at Faruqi & Faruqi, LLP, encourages investors who have suffered losses beyond 75,000 US dollars At FAT Brands, you can contact him directly to discuss your options.

If you have suffered losses that 75,000 US dollars in Fat Brands between 24 March 2022 And May 10, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi Partner Josh Wilson direct at 877-247-4292 or 212-983-9330 (Extension 1310). For more information you can also click here: www.faruqilaw.com/FAT.

Faruqi & Faruqi is a leading national securities law firm with offices in new York, Pennsylvania, California And GeorgiaThe firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint claims that the Company and its officers violated federal securities laws by making false and/or misleading statements and/or failing to disclose: (1) Defendants failed to disclose: Andrew A. Wiederhornthe Company’s Chairman and former CEO, had wrongfully received payments from the Company, thereby exposing Fat Brands to criminal liability, and (2) as a result, Defendants’ statements about the Company’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all times.

At May 10, 2024, The United States Public Prosecutor’s Office for the Central District California published a press release titled “Former CEO and majority shareholder of FAT Brands Inc., former CFO and tax consultant indicted in Allegedly Plan to hide 47 million US dollars Paid to the CEO in the form of shareholder loans.” The press release stated: “Andrew A. Wiederhornthe former CEO and current majority shareholder of publicly traded Fat Brands Inc. (FAT), has been indicted at the federal level for conspiring to conceal 47 million US dollars of distributions he received in the form of shareholder loans from the IRS, FAT’s minority shareholders, and the broader investor community, the Department of Justice announced today.”

Following this news, the price of FAT Brands Class A common stock fell by $2.08 per share or 27.73% and closed at $5.42 At May 10, 2024.

The court-appointed lead plaintiff will be the investor with the greatest financial interest in the relief sought by the class, who is reasonable and typical of class members, and who will direct and oversee the litigation on behalf of the putative class. Any member of the putative class may, through counsel of his or her choosing, ask the court to serve as lead plaintiff, or he or she may choose to do nothing and remain an absent class member. Your ability to share in any relief will not be affected by your decision to serve as lead plaintiff.

Faruqi & Faruqi, LLP also encourages anyone with information regarding FAT Brands’ conduct, including whistleblowers, former employees, shareholders and others, to contact the company.

Learn more about the FAT brands Class action lawsuit, go to www.faruqilaw.com/FAT or Call Faruqi & Faruqi Partner Josh Wilson direct at 877-247-4292 or 212-983-9330 (Extension 1310).

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