FAT Brands Issues Statement Regarding SOX 402 Charges; Says "These Charges Are Unprecedented, Unwarranted, Unsubstantiated, And Unjust. They Are Based On Conduct That Ended Over Three Years Ago And Ignore The Company's Cooperation With The Investigation."

Today Brian Hennigan of Hueston Hennigan LLP, Counsel for FAT Brands Inc., issued the following statement:

 

"Today FAT Brands was informed that it has been indicted on two violations of SOX 402 for arranging approximately $2.65 million in loans to Andy Wiederhorn.

These charges are unprecedented, unwarranted, unsubstantiated, and unjust. They are based on conduct that ended over three years ago and ignore the Company's cooperation with the investigation. 

FAT Brands will take all necessary action to defend itself, while seeking a just resolution to these charges. Since becoming a public company, FAT Brands has grown to at a remarkable pace to encompass 18 brands with $2.5 billion in global sales and 2,300 locations worldwide, benefitting franchisees and investors alike. The Company will continue executing on its operating plans and growth strategy."