Defendant Name: FAT Brands, Inc.

Defendant Type: Public Company

Document Reference: LR-26001

Document Details

Legal Case Name SEC v. FAT Brands Inc., Andrew Wiederhorn, Ron Roe, and Rebecca Hershinger
Document Name SEC Charges Restaurant Group FAT Brands Inc., its Chairman and Former CEO, and its Two Former CFOs with Defrauding Investors
Document Date 10-May-2024
Document Format Civil Proceeding
Case Number 24-cv-03913
Federal District Court California, Central District of California
Allegation Type Issuer Reporting and Disclosure
Document Summary On May 10, 2024, the SEC stated that "it filed fraud charges against FAT Brands Inc. (“FAT”), its founder, former CEO, and current Chairman, Andrew Wiederhorn (“Wiederhorn”), and its former CFOs, Ron Roe (“Roe”) and Rebecca Hershinger (“Hershinger”) concerning FAT’s disclosures about related person transactions with Wiederhorn and his family."

Related Documents:

comp26001 10-May-2024 Complaint
Complaint
The Commission stated: "Between October 2017 and March 2021 (the “Relevant Period”), Andrew Wiederhorn (“Wiederhorn”), the former chief executive officer and current director and controlling shareholder of FAT Brands Inc. (“FAT” or the “Company”) used almost $27 million of FAT’s cash on his personal expenses including private jets, first class airfare, luxury vacations, his rent and mortgage payments, shopping, and jewelry. During this time, Wiederhorn falsely told the Company’s auditors, board of directors, and investors that neither he nor his family members had any direct or indirect material interest in the FAT cash that Wiederhorn used for those personal expenditures."

Other Defendants in Action:

Andrew Wiederhorn
Ron Roe
Rebecca Hershinger