Cheesecake Factory settles charges it misled investors about how badly Covid-19 was hitting its business

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The Cheesecake Factory has agreed to pay a fine of $125,000 to settle Securities and Exchange Commission charges of misleading investors about the toll the coronavirus pandemic has taken on its business.

New York

In March and April, when many restaurants were instructed to close their doors in an effort to curb the spread of the novel coronavirus, the Cheesecake Factory assured investors through financial filings that its pickup and delivery business was allowing the chain to operate"sustainably." But internal documents painted a very different picture, according to the SEC.

 

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It's strange, my first thought would be that people would be eating MORE cheesecake while stuck at home...

And Martha Stewart went to prison...

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