Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of The Cheesecake Factory Incorporated (NASDAQ: CAKE) resulting from allegations that Cheesecake Factory may have issued materially misleading business information to the investing public.
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.
On this news, Cheesecake Factory’s stock price fell $0.81 per share, or 2%, to close at $38.62 per share on December 4, 2020.
Rosen Law Firm is preparing a securities lawsuit on behalf of Cheesecake Factory shareholders. If you purchased securities of Cheesecake Factory please visit the firm’s website at http%3A%2F%2Fwww.rosenlegal.com%2Fcases-register-2001.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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