Following a conspicuous downturn during regular trading hours, shares of FAT Brands Inc. (NASDAQ: FAT) exhibited signs of recovery during after-hours trading last Friday. The extended session witnessed a commendable 10.15% upsurge in FAT stock, reaching $5.97, countering the prior session's 28.50% loss. This oscillation in FAT Brands' stock value coincided with the emergence of a legal matter.
- Litigation Allegations And Corporate Response
- Extending Views
Litigation Allegations And Corporate Response
Brian Hennigan, representing FAT Brands as Counsel at Hueston Hennigan LLP, released a statement addressing the company's notification of indictment on two counts of violating SOX 402. These charges pertain to the facilitation of approximately $2.65 million in loans to Andy Wiederhorn.
These claims were strongly denied by FAT Brands, who described them as unprecedented, unfair, unjustified, and baseless. The corporation emphasized that the alleged behavior occurred more than three years ago and emphasized its complete cooperation with the inquiry. Asserting its commitment to defend against the charges, FAT Brands expressed a desire for a fair resolution.
Notwithstanding these legal issues, FAT Brands emphasized how much it has grown since going public, with 18 brands, $2.5 billion in sales globally, and 2,300 locations—a success that benefits both investors and franchisees.
Extending Views
In a well-thought-out move, FAT Brands has disclosed ambitions to grow its Hurricane Grill & Wings brand into the renowned Six Flags establishments through Hurricane Grill & Wings. Hurricane Grill & Wings, which is well-known for its relaxed atmosphere and award-winning wings, is set to open this summer at Six Flags Great Escape Lodge in Queensbury, New York.
This move demonstrates FAT Brands' successful collaboration with Six Flags and its dedication to growing into unconventional spaces. Hurricane Grill & Wings is a notable growth, especially in the upstate area, to the New York state market.
Notably, this endeavor becomes FAT Brands' third brand within Six Flags amusement parks, following in the footsteps of Johnny Rockets and Fatburger. Ever since it began collaborating with Six Flags after Johnny Rockets was acquired in 2020, the relationship has benefited both parties.
继正常交易时段明显下跌之后,FAT Brands Inc.(纳斯达克股票代码:FAT)的股票在上周五盘后交易中显示出复苏的迹象。在延长的交易日中,FAT股票大幅上涨了10.15%,达到5.97美元,抵消了前一交易日28.50%的跌幅,值得称赞。FAT Brands股票价值的波动恰逢法律问题的出现。
诉讼指控和公司回应
布莱恩·亨尼根代表FAT Brands担任休斯顿·亨尼根律师事务所的法律顾问,发表了一份声明,回应了该公司因两项违反SOX 402的罪名发出的起诉通知。这些费用涉及为向安迪·维德霍恩提供约265万美元的贷款提供便利。
FAT Brands坚决否认了这些说法,他们称这些说法是前所未有的、不公平的、不合理的、没有根据的。该公司强调说,所指控的行为发生在三年多以前,并强调将全力配合调查。FAT Brands承诺为这些指控进行辩护,并表示希望达成公平的解决方案。
尽管存在这些法律问题,但FAT Brands强调了自上市以来已经取得了长足的发展,拥有18个品牌,全球销售额为25亿美元,分支机构2300个,这一成功使投资者和加盟商都受益。
扩展视图
在经过深思熟虑的举措中,FAT Brands透露了通过Hurricane Grill & Wings将其Hurricane Grill & Wings品牌发展到著名的六旗餐厅的雄心壮志。Hurricane Grill & Wings以其轻松的氛围和屡获殊荣的翼楼而闻名,定于今年夏天在纽约昆斯伯里的六旗大逃亡旅馆开业。
此举表明了FAT Brands与Six Flags的成功合作,以及其致力于发展到非常规空间的决心。Hurricane Grill & Wings对纽约州市场来说是一个显著的增长,尤其是在州北部地区。
值得注意的是,这一举措成为FAT Brands在六旗游乐园中的第三个品牌,它紧随约翰尼火箭队和Fatburger的脚步。自约翰尼火箭队于2020年被收购后开始与六旗合作以来,这种关系一直使双方受益。