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.
繼正常交易時段明顯下跌之後,FAT Brands Inc.(納斯達克股票代碼:FAT)的股票在上週五盤後交易中顯示出復甦的跡象。在延長的交易日中,FAT股票大幅上漲了10.15%,達到5.97美元,抵消了前一交易日28.50%的跌幅,值得稱讚。FAT Brands股票價值的波動恰逢法律問題的出現。
訴訟指控和公司回應
布萊恩·亨尼根代表FAT Brands擔任休斯頓·亨尼根律師事務所的法律顧問,發表了一份聲明,回應了該公司因兩項違反SOX 402的罪名發出的起訴通知。這些費用涉及爲向安迪·維德霍恩提供約265萬美元的貸款提供便利。
FAT Brands堅決否認了這些說法,他們稱這些說法是前所未有的、不公平的、不合理的、沒有根據的。該公司強調說,所指控的行爲發生在三年多以前,並強調將全力配合調查。FAT Brands承諾爲這些指控進行辯護,並表示希望達成公平的解決方案。
儘管存在這些法律問題,但FAT Brands強調了自上市以來已經取得了長足的發展,擁有18個品牌,全球銷售額爲25億美元,分支機構2300個,這一成功使投資者和加盟商都受益。
擴展視圖
在經過深思熟慮的舉措中,FAT Brands透露了通過Hurricane Grill & Wings將其Hurricane Grill & Wings品牌發展到著名的六旗餐廳的雄心壯志。Hurricane Grill & Wings以其輕鬆的氛圍和屢獲殊榮的翼樓而聞名,定於今年夏天在紐約昆斯伯裏的六旗大逃亡旅館開業。
此舉表明了FAT Brands與Six Flags的成功合作,以及其致力於發展到非常規空間的決心。Hurricane Grill & Wings對紐約州市場來說是一個顯著的增長,尤其是在州北部地區。
值得注意的是,這一舉措成爲FAT Brands在六旗遊樂園中的第三個品牌,它緊隨約翰尼火箭隊和Fatburger的腳步。自約翰尼火箭隊於2020年被收購後開始與六旗合作以來,這種關係一直使雙方受益。