FAT Brands Officers Receive Wells Notice From SEC [MarketWatch]
FAT Brands Inc. - Class B (FATBB)
Company Research
Source: MarketWatch
of the company each received a Wells Notice from the Securities and Exchange Commission. A Wells Notice is a communication from the U.S. securities regulator that informs people under investigation that a conclusion has been reached regarding proceedings against them. It is neither a formal charge of wrongdoing nor a determination that the recipient has violated any law, but FAT Brands said it believes that all conduct related to the investigation and the Wells Notices occurred during or prior to fiscal year 2020. Advertisement In April, the company, which franchises various restaurants like Fatburger and Johnny Rockets, overhauled its board in April, removing most of its independent directors and dissolving some committees while the government investigated the company. FAT Brands previously disclosed that the U.S. Attorney's Office for the Central District of California and the Securities Exchange Commission were investigating the company and Andrew Wiederhorn. FAT Brands' bo
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