Fat Brands CEO under SEC investigation, company discloses


Shares of Fat Brands tumbled as the corporate disclosed that CEO Andrew Wiederhorn is beneath investigation.

The U.S. Lawyer’s Workplace in Central California, together with the Securities and Exchange Commission, is wanting into the corporate’s 2020 merger with Wiederhorn’s funding agency, Fog Cutter Capital Group.

Gatlinburg, TN, USA – : Entrance of Johnny Rockets Diner on the Gatlinburg strip.

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Shares of the restaurant chain fell greater than 22% following the information.

Ticker Safety Final Change Change %
FAT FAT BRANDS INC. 8.14 -2.42 -22.92%

The Securities and Alternate Fee is “formally searching for paperwork and supplies regarding, amongst different issues, the Firm’s December 2020 merger with Fog Cutter Capital Group Inc., transactions between these entities and Mr. Wiederhorn, and compensation, extensions of credit score and different advantages or funds obtained by Mr. Wiederhorn or his household” in response to the regulatory submitting. 

Andrew Wiederhorn, CEO of FAT Manufacturers (FOX)

The firm is cooperating with the authorities concerning these issues, and the corporate is just not at the moment a goal of the U.S. Lawyer’s investigation, in response to the submitting.  

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FAT Manufacturers owns Fatburger, Johnny Rockets, Twin Peaks and Fazoli’s, amongst others.

The U.S. Securities and Alternate Fee (SEC). Photographer: Andrew Harrer/Bloomberg through Getty Pictures (Photographer: Andrew Harrer/Bloomberg / Getty Pictures)



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