WILMINGTON, Del., Dec. 11, 2020 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of FAT Brands Inc. (NASDAQCM: FAT) (“FAT Brands” or the “Company”) relating to the sale of the Company to Fog Cutter Capital Group Inc. (“Fog Cutter”), which owns and controls over 81% of Fat Brands’ stock. The two parties have announced that they reached an agreement in principle pursuant to which Fog Cutter will acquire Fat Brands in a merger. As a result of the merger, Fat Brands shareholders are only anticipated to receive 0.2319998077 shares of the Company’s 8.25% Series B Cumulative Preferred Stock in exchange for each share of Fat Brands.
Andrews & Springer’s investigation is looking into whether the fractional shares of the Series B Preferred Stock is adequate consideration to Fat Brands’ shareholders. Our investigation is also looking into the process leading up to the announcement of the merger, which appears to have significant conflicts of interest thus making the process and consideration unfair.
If you own shares of Fat Brands and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/fat-brands-merger-class-action-investigation/ or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.