According to the Complaint, Fat Brands describes itself as “a leading multi-brand restaurant company that develops, markets, acquires and manages quick-service, fast casual, casual dining and polished casual dining restaurant concepts around the world[.]”

The Complaint alleges that Defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) Defendants failed to disclose that the Company’s Chairman and former CEO had received improper payments from the Company, exposing FAT Brands to criminal liability; and (2) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.