NEW YORK, Dec. 07, 2020 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, continues to investigate 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 in the COVID-19 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://www.rosenlegal.com/cases-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 pkim@rosenlegal.com or cases@rosenlegal.com.
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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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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com