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Browse: Home / 2020 / December / 09 / Cheesecake Factory Penalty Signals Shift In SEC Virus Focus – Law360

Cheesecake Factory Penalty Signals Shift In SEC Virus Focus – Law360

By Securities Docket on December 9, 2020, 10:57 am

On Dec. 4, the U.S. Securities and Exchange Commission brought its first enforcement action charging a public company, The Cheesecake Factory Inc., with misleading investors about the financial effects of the pandemic.[1] The case is significant because it shows that the agency is moving past its initial bout of enforcement activity targeting blatantly fraudulent activity involving COVID-19.

Recent public remarks by a senior member of the SEC’s Coronavirus Steering Committee indicate that the SEC Enforcement Division’s pipeline includes COVID-19-related investigations concerning a broader range of potential securities law violations, such as negligent misrepresentations, material omissions and insider trading.

Source: Cheesecake Factory Penalty Signals Shift In SEC Virus Focus – Law360

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