NEW
YORK, June 27, 2024 /PRNewswire/ -- Moore Law,
PLLC, a securities and shareholder law firm located on Wall Street,
is investigating potential claims against:
- Fat Brands Inc. (NASDAQ: FAT) or Fat Brands Class B common
stock (NASDAQ: FATBB)
Shareholders who acquired before March
24, 2022 should email: Fletcher@fmoorelaw.com
The investigation concerns a failure to disclose that
Andrew A. Wiederhorn, the Company's
Chairman and former CEO, had received improper payments from the
Company, exposing Fat Brands to criminal liability.
On May 10, 2024, the United States Attorney's Office for the
Central District of California
issued a press release entitled "Former CEO and Controlling
Shareholder of Fat Brands Inc., Former CFO, and a Tax Advisor
Indicted in Alleged Scheme to Conceal $47 million Paid to CEO in the Form of
Shareholder Loans." The press release revealed that "Andrew A. Wiederhorn, the former CEO and current
controlling shareholder of [Fat Brands], has been indicted on
federal charges alleging a scheme to conceal $47 million in distributions he received in the
form of shareholder loans from the IRS, FAT's minority
shareholders, and the broader investing public[.]" It further
stated that "Wiederhorn-assisted by FAT's [CFO] and his outside
accountant at advisory firm Andersen – concealed millions of
dollars in reportable compensation and taxable income and evaded
the payment of millions of dollars in taxes, while causing FAT
itself to violate the Sarbanes-Oxley Act's prohibition on direct
and indirect extensions of credit to public-company CEOs in the
form of a personal loan."
If you own Fat Brands Inc. (NASDAQ:
FAT), please contact Fletcher Moore by email
at fletcher@fmoorelaw.com or (212) 709-8245.
ABOUT MOORE LAW PLLC
Moore Law is a NYC plaintiff litigation law firm for investors.
We hold officers and directors accountable for breaches of
fiduciary duty, fraud, insider trading, wasteful
spending, and other corporate malfeasance. There is no cost to you.
Our investor cases are contingency only.
Fletcher Moore, Esq.
Moore Law, PLLC
fletcher@fmoorelaw.com
(212) 709-8245
www.fmoorelaw.com
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SOURCE Moore Law PLLC