An investigation for investors in The Cheesecake Factory Incorporated (NASDAQ:CAKE) shares over potential securities laws violations by The Cheesecake Factory Incorporated was announced.
San Diego, CA -- (SBWIRE) -- 12/23/2020 -- An investigation was announced over potential securities laws violations by The Cheesecake Factory Incorporated in connection with certain financial statements.
Investors who purchased shares of The Cheesecake Factory Incorporated (NASDAQ: CAKE), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by The Cheesecake Factory Incorporated (NASDAQ: CAKE regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Early pandemic, on March 23, 2020 and April 3, 2020, the Cheesecake Factory Incorporated 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. The Cheesecake Factory Incorporated also reportedly 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 Cheesecake Factory Incorporated announced that it will pay a $125,000 fine to the U.S. Securities and Exchange Commission for making misleading statements.
Those who purchased shares of The Cheesecake Factory Incorporated (NASDAQ: CAKE) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.