NEW YORK–(BUSINESS WIRE)–Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against The Cheesecake Factory Incorporated (NASDAQ: CAKE) on behalf of Cheesecake Factory stockholders. Our investigation concerns whether Cheesecake Factory has violated the federal securities laws and/or engaged in other unlawful business practices.
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Early pandemic, on March 23, 2020 and April 3, 2020, Cheesecake Factory said that its restaurants were “operating sustainably.” In reality, the Company was losing around $6 million per week and did not disclose this information to investors. Cheesecake Factory also failed to disclose to investors that it informed landlords that the COVID-19 pandemic made it impossible to pay rent in April. On December 4, 2020, the Company announced that it will pay a $125,000 fine to the U.S. Securities and Exchange Commission for making misleading statements.
On this news, Cheesecake Factory’s stock price fell $0.81 per share, or 2%, to close at $38.62 per share on December 4, 2020.
If you purchased or otherwise acquired Cheesecake Factory shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.