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

NEW YORK, July 10, 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 urged to contact Danielle Peyton at (email protected) or 646-581-9980 (or 888.4-POMLAW), toll-free, extension 7980. For inquiries by email, you will be asked to provide your mailing address, telephone number and the 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 unlawful business practices.

You have until 6 August 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 is available attwww.pomerantzlaw.com.

(Click here for information on joining the class action lawsuit.)

At May 10, 2024, The United States Public Prosecutor’s Office for the Central District California issued a press release essentially stating that the majority shareholder and former CEO of Fat Brands Andrew Wiederhorn (“CEO”), along with the company’s former Chief Financial Officer (“CFO”), Hershinger, and a tax consultant, “have been indicted at the federal level for conspiring to conceal 47 million US dollars in the form of distributions (Wiederhorn) received in the form of shareholder loans from the IRS, from FAT’s minority shareholders and from the broader investor community(.)” On the same day, the US Securities and Exchange Commission filed a civil lawsuit against Fat Brands, CEO Wiederhorn and CFO Hershinger, alleging the same allegedly Wrongdoing.

Following this news, Fat Brands’ share price fell $2.08 per share or 27.73% and closed at $5.42 per share on May 10, 2024.

Pomerantz LLP, with offices in new York, Chicago, Los Angeles, London, ParisAnd Tel-Avivis considered one of the leading law firms in the areas of corporate, securities and antitrust litigation. Founded by the late Abraham L. PomerantzKnown as the dean of class action lawyers, Pomerantz was a pioneer in the field of securities class action litigation. Today, more than 85 years later, Pomerantz continues the tradition he established and fights for the rights of victims of securities class action litigation. FraudBreach of fiduciary duty and corporate misconduct. The firm has won billions of dollars in damages on behalf of class action plaintiffs. See www.pomlaw.com.

Attorney advertising. Past results do not guarantee similar results.

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

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