Kaskela Law LLC has filed a stockholder derivative complaint on behalf of FAT Brands’ investors in the Delaware Court of Chancery (Case No. 2021-0511-VCG).
The complaint alleges that FAT Brands’ directors breached their fiduciary duties in connection with, among other things, a December 2020 merger of FAT Brands and Fog Cutter Capital Group, Inc. (“FCCG”), an entity controlled by FAT Brands’ controlling stockholder, Andrew Wiederhorn. A copy of the complaint is available from the Court or Kaskela Law.
On February 11, 2022, the Court denied defendants’ motions to dismiss the complaint, paving the way for litigation to proceed.