IN THIS ISSUE
In First Ever SEC Sanction for Allegedly Misleading COVID Related Disclosures, Cheesecake Factory Pays $125,000 Civil Penalty; New York State Appellate Court Dismisses Putative Securities Act Class Action on Merits for First Time Since 2018 U.S. Supreme Court Decision; Goodwin Secures Third Circuit Victory in Securities Class Action Against Former Officers and Directors of Lionbridge Technologies; Hemp Inc. and CEO Sign Consent Decrees Settling SEC Lawsuit over Unregistered Securities.
On December 4, 2020, the Cheesecake Factory Incorporated (the “Cheesecake Factory”) agreed to pay a $125,000 civil penalty to settle Securities and Exchange Commission (“SEC”) allegations that the company’s March 23, 2020 and April 3, 2020 Forms 8-K contained material misstatements concerning COVID-19’s impact on its business.