Derivative Action against BurgerFi Dismissed
21 Settembre 2023 - 1:15PM
BurgerFi International, Inc. (Nasdaq: BFI, BFIIW) (“BurgerFi” or
the “Company”), owner of one of the nation’s leading fast-casual
“better burger” dining concepts through the BurgerFi brand, and the
high-quality, casual dining pizza and wings concept under the name
Anthony’s Coal Fired Pizza & Wings (“Anthony’s”) brand,
announces that a derivative action filed August 30, 2023 by two
BurgerFi shareholders purportedly on behalf of the Company against
certain of its current and former directors and officers has been
voluntarily dismissed.
On September 20, 2023, United States District
Court Judge Rodney Smith for the Southern District of Florida
issued an order dismissing without prejudice the derivative action
in the case of Samhita Gera and Denish Bhavsar v. Ophir Sternberg,
et al., Case No. 023-cv-61678, and closed the case.
The dismissal of this derivative lawsuit follows
the recent dismissal of a related securities class action lawsuit,
John Walker v. BurgerFi International, Inc. et al., Case No.
023-cv-60657, which BurgerFi announced on September 7, 2023.
Both cases were dismissed in the preliminary
stages without the company agreeing to any monetary or non-monetary
settlement to the plaintiffs or their counsel. BurgerFi is not
aware of any related lawsuits pending against it or any of its
executives.
Management Commentary
"I am pleased to announce the dismissal of the
derivative lawsuit so soon after the dismissal of the securities
class action. Both cases have now been closed and the company is
not subject to any monetary obligation. We will continue to focus
on our core mission of delivering value to our stakeholders." - CEO
Carl Bachmann.
About BurgerFi
International (Nasdaq:
BFI, BFIIW)
BurgerFi International, Inc. is a leading
multi-brand restaurant company that develops, markets, and acquires
fast-casual and premium-casual dining restaurant concepts around
the world, including corporate-owned stores and franchises.
BurgerFi International is the owner and franchisor of the two
following brands with a combined 174 locations.
BurgerFi. BurgerFi is among the nation’s
fast-casual better burger concepts with 114 BurgerFi restaurants
(87 franchised and 27 corporate-owned) as of July 3, 2023. BurgerFi
is chef-founded and committed to serving fresh, all-natural and
quality food at all locations, online and via first-party and
third-party deliveries. BurgerFi uses 100% American Angus Beef with
no steroids, antibiotics, growth hormones, chemicals or additives.
BurgerFi's menu also includes high-quality Wagyu Beef Blend
Burgers, Antibiotic and Cage-Free Chicken offerings, Hand-Cut
Sides, and Frozen Custard Shakes. BurgerFi was named "The Very Best
Burger" at the 2023 edition of the nationally acclaimed SOBE Wine
and Food Festival and “Best Fast Food Burger” in USA Today’s 10Best
2023 Readers’ Choice Awards for its BBQ Rodeo Burger, "Best Fast
Casual Restaurant" in USA Today's 10 Best 2023 Readers' Choice
Awards for the third consecutive year, QSR Magazine's Breakout
Brand of 2020 and Fast Casual's 2021 #1 Brand of the Year. In 2021,
Consumer Reports awarded BurgerFi an “A Grade Angus Beef” rating
for the third consecutive year. To learn more about BurgerFi or to
find a full list of locations, please visit
www.burgerfi.com. Download the BurgerFi App on iOS or Android
devices for rewards and 'Like' or follow @BurgerFi on Instagram,
Facebook and Twitter. BurgerFi® is a Registered Trademark of
BurgerFi IP, LLC, a wholly-owned subsidiary of BurgerFi.
Anthony’s. Anthony’s was acquired by BurgerFi on
November 3, 2021 and is a premium pizza and wing brand that
operates 60 corporate-owned casual restaurant locations, as of July
3, 2023. Known for serving fresh, never frozen and quality
ingredients, Anthony’s is centered around a 900-degree coal-fired
oven with menu offerings including “well-done” pizza, coal-fired
chicken wings, homemade meatballs, and a variety of handcrafted
sandwiches and salads. Anthony’s was named “The Best Pizza Chain in
America” by USA Today's Great American Bites and “Top 3 Best Major
Pizza Chain” by Mashed in 2021. To learn more about Anthony’s,
please visit www.acfp.com.
Forward-Looking Statements
This press release may contain “forward-looking
statements” as defined in the Private Securities Litigation Reform
Act of 1995. Forward-looking statements generally can be identified
by words such as “anticipates,” “believes,” “estimates,” “expects,”
“intends,” “plans,” “predicts,” “projects,” “will be,” “will
continue,” “will likely result,” and similar expressions. These
forward-looking statements are based on current expectations and
assumptions that are subject to risks and uncertainties, which
could cause our actual results to differ materially from those
reflected in the forward-looking statements. Factors that could
cause or contribute to such differences include, but are not
limited to, those discussed in our Annual Report on Form 10-K for
the year ended January 2, 2023, and those discussed in other
documents we file with the Securities and Exchange Commission. All
subsequent written and oral forward-looking statements attributable
to BurgerFi or persons acting on BurgerFi’s behalf are expressly
qualified in their entirety by the cautionary statements included
in this press release. We undertake no obligation to revise or
publicly release the results of any revision to these
forward-looking statements, except as required by law. Given these
risks and uncertainties, readers are cautioned not to place undue
reliance on such forward-looking statements.
Investor
Relations:ICRMichelle Michalski
IR-BFI@icrinc.com 646-277-1224
Company Contact: BurgerFi
International Inc.
IR@burgerfi.com
Media Relations
Contact:Ink Link Marketing Kim
MillerKmiller@inklinkmarketing.com
Source: BurgerFi International
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