Cheesecake Factory Inc. (CAKE)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Cheesecake Factory Inc. ("Cheesecake Factory" or "the Company") (NASDAQ: CAKE). The investigation concerns whether Cheesecake Factory and certain of its officers and/or directors have violated federal securities laws.
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. Following this news, Cheesecake Factory stock dropped during intraday trading that same day.
If you are aware of any facts relating to this investigation, or purchased Cheesecake Factory shares, you can assist this investigation by visiting contacting the firm. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.