Fatburger Parent Co. Tries Again To Escape IPO Suit
Law360 (September 10, 2019, 3:52 PM EDT) -- The parent company of fast-food chain Fatburger asked a California federal court to dump its investors' proposed class action over alleged omissions ahead of its $20 million initial public offering, arguing that the third iteration of the suit still fails to plead securities fraud.
The suit claims restaurant franchising company Fat Brands Inc. lied to shareholders about the profitability of new acquisitions and hid the troubled financial health of its main shareholder, with which it planned to merge after the 2017 IPO.
The company said Monday that the suit, which was dismissed in June and amended in August, has now been...
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