LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of The Cheesecake Factory Incorporated (“Cheesecake Factory” or “the Company”) (NASDAQ: CAKE) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. In the midst of the early pandemic months of March and April, Cheesecake Factory stated that its restaurants were "operating sustainably." The Company was actually losing about $6 million per week due to restaurant closures, which it did not disclose to investors. The Company also failed to disclose to investors that it informed landlords around the country that the COVID-19 pandemic would make it impossible to pay rent for the month of April. The Company announced on December 4, 2020, that it would pay a $125,000 fine to the SEC for misleading statements. Based on this news, shares of Cheesecake Factory fell by 2% on the same day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.