NEW YORK, NY/ACCESSWIRE/December 9, 2020/ Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Cheesecake Factory Inc. (“Cheesecake Factory” or “the Company”) (NASDAQ: CAKE). Investors who have purchased securities of Cheesecake Factory are encouraged to obtain additional information and assist in the investigation by visiting the company’s website: www.bgandg.com/cake.
The investigation focuses on whether Cheesecake Factory and certain of its officers and/or directors violated federal securities laws.
Early pandemic, March 23, 2020 and April 3, 2020, Cheesecake Factory said its restaurants were “running sustainably.” In reality, the company was losing around $6 million a 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 would pay a $125,000 fine to the United States Securities and Exchange Commission for making misleading statements. Following this news, Cheesecake Factory stock fell during intraday trading on the same day.
If you know of any facts relating to this investigation, or if you have purchased Cheesecake Factory stock, you can contribute to this investigation by visiting the company’s website: www.bgandg.com/cake. 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 core expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in security class actions, the firm’s expertise includes general commercial and corporate litigation, as well as securities arbitration. Lawyer advertisement. Prior results do not guarantee similar results.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
THE SOURCE: Bronstein, Gewirtz & Grossman, LLC
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