U.S. Attorney dismisses charges against FAT Brands' leaders, affirming no criminal conduct occurred. Company plans continued growth.
Quiver AI Summary
The United States Attorney for the Central District of California has moved to dismiss all charges against Andrew Wiederhorn, CEO of FAT Brands Inc., along with co-defendants Rebecca Hershinger and William Amon. Wiederhorn and his legal team have maintained their innocence, asserting that there was no criminal conduct, victims, or financial losses involved in the allegations. Following this decision, Wiederhorn expressed gratitude to the U.S. Attorney’s Office and his attorneys, indicating a desire to focus on the growth of FAT Brands, which operates a wide array of restaurant concepts globally. With the legal matter resolved, FAT Brands is positioned for further expansion, having over 1,000 units in development and more than 100 new store openings expected this year.
Potential Positives
- The U.S. Attorney's Office has filed a motion to dismiss all charges against key figures at FAT Brands, including CEO Andy Wiederhorn, indicating a significant legal victory for the company.
- The dismissal of the indictment allows FAT Brands to refocus on its business operations and growth initiatives without the burden of legal issues.
- FAT Brands is positioned for continued expansion, with over 1,000 units in its development pipeline and expectations of more than 100 new store openings this year.
- The press release emphasizes FAT Brands' strong market presence, with 18 restaurant concepts and over 2,300 locations globally, reinforcing its status as a leader in the dining industry.
Potential Negatives
- The press release indicates that there were serious legal charges filed against key personnel, which could raise concerns about governance and risk management within FAT Brands.
- The mention of no victims or financial losses could imply that the case may have been perceived as serious enough to warrant legal scrutiny, potentially affecting stakeholder trust.
- The need for a motion to dismiss indicates that the company was involved in legal proceedings, which can distract from business operations and affect investor confidence.
FAQ
What were the charges against Andy Wiederhorn and others?
The charges involved allegations of criminal conduct, which the defendants consistently denied, claiming no victims or financial losses existed.
What is the outcome of the charges against FAT Brands executives?
The U.S. Attorney's Office has filed a motion to dismiss all charges against Andy Wiederhorn, Rebecca Hershinger, and William Amon.
How did Andy Wiederhorn respond to the dismissal of charges?
Andy Wiederhorn expressed gratitude towards the U.S. Attorney’s Office for taking a fresh look and allowing him to focus on FAT Brands' growth.
What is FAT Brands' position in the global restaurant industry?
FAT Brands is a leading global franchising company with a portfolio of 18 restaurant concepts and over 2,300 locations worldwide.
What are FAT Brands' future plans following the dismissal?
With the legal matter closed, FAT Brands plans to continue its growth, with over 1,000 units in the development pipeline and new store openings anticipated.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$FAT Insider Trading Activity
$FAT insiders have traded $FAT stock on the open market 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $FAT stock by insiders over the last 6 months:
- MARK ELENOWITZ purchased 1,000 shares for an estimated $2,200
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$FAT Hedge Fund Activity
We have seen 6 institutional investors add shares of $FAT stock to their portfolio, and 12 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- DIVISADERO STREET CAPITAL MANAGEMENT, LP removed 175,428 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $505,232
- CITADEL ADVISORS LLC added 23,966 shares (+inf%) to their portfolio in Q1 2025, for an estimated $69,022
- FNY INVESTMENT ADVISERS, LLC removed 11,948 shares (-74.4%) from their portfolio in Q1 2025, for an estimated $34,410
- NORTHERN TRUST CORP removed 8,795 shares (-27.7%) from their portfolio in Q1 2025, for an estimated $25,329
- GEODE CAPITAL MANAGEMENT, LLC removed 2,768 shares (-6.0%) from their portfolio in Q1 2025, for an estimated $7,971
- CAMBRIDGE INVESTMENT RESEARCH ADVISORS, INC. removed 1,464 shares (-9.9%) from their portfolio in Q1 2025, for an estimated $4,216
- RENAISSANCE TECHNOLOGIES LLC removed 1,000 shares (-4.3%) from their portfolio in Q1 2025, for an estimated $2,880
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$FAT Analyst Ratings
Wall Street analysts have issued reports on $FAT in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Loop Capital issued a "Buy" rating on 05/12/2025
To track analyst ratings and price targets for $FAT, check out Quiver Quantitative's $FAT forecast page.
Full Release
LOS ANGELES, July 29, 2025 (GLOBE NEWSWIRE) -- The United States Attorney for the Central District of California has filed a motion to dismiss all charges against Andrew “Andy” Wiederhorn, FAT Brands Inc. (NASDAQ: FAT), Rebecca Hershinger, and William Amon.
Mr. Wiederhorn and his legal team have consistently maintained his innocence, and that the events described involved no criminal conduct, no victims, and no financial losses.
“From day one, we have maintained Andy’s innocence,” said Nick Hanna , of Gibson Dunn, counsel for Mr. Wiederhorn and the former U.S. Attorney for the Central District of California. “We are extremely grateful that the U.S. Attorney’s Office listened to our arguments and determined, in the interests of justice, that all charges should be dropped.”
“We have said from the beginning that this is a case with no victims, no losses, and no crimes,” added Douglas Fuchs of Gibson Dunn and counsel to Mr. Wiederhorn. “Today, the U.S. Attorney took the appropriate step of dismissing the indictment.”
“I am grateful to the U.S. Attorney’s Office for taking a fresh look at this case and to the attorneys who worked tirelessly on my behalf and on behalf of the other defendants,” said Andy Wiederhorn. “With this indictment behind us, I look forward to focusing on the continued growth and success of FAT Brands.”
FAT Brands Inc. is a global restaurant franchising company with a portfolio of 18 restaurant concepts and over 2,300 locations worldwide. With the DOJ matter closed, FAT Brands is poised to continue to build on recent growth, with over 1,000 units in its development pipeline, approximately 120 signed development agreements year-to-date, and more than 100 new store openings anticipated this year. The company’s franchising model, co-branding options, and well-established restaurant concepts – including Fatburger, Johnny Rockets, Round Table Pizza, and Twin Peaks, a subsidiary of Twin Hospitality Group Inc. (NASDAQ: TWNP) – position it as a leader in the global dining landscape.
About FAT (Fresh. Authentic. Tasty.) Brands
FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets and develops fast casual, casual and polished casual dining restaurant concepts around the world. The Company currently owns 18 restaurant brands: Round Table Pizza
®
, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Smokey Bones, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Native Grill & Wings, Pretzelmaker, Elevation Burger, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit
http://www.fatbrands.com
.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the timing and performance of new store openings and FAT Brands’ pipeline of new store locations. These statements are subject to significant business, economic and competitive risks, uncertainties and contingencies, many of which are difficult to predict and beyond our control, which could cause our actual results to differ materially from the results expressed or implied in such forward-looking statements. We refer you to the documents filed by FAT Brands from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks and uncertainties that could cause our actual results to differ materially from our current expectations and from the forward-looking statements contained in this press release. We undertake no obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of this press release.
MEDIA C
ONTACT
:
Erin Mandzik, FAT Brands
[email protected]
860-212-6509