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LOS ANGELES (CNS) - The Securities and Exchange Commission announced Friday that Calabasas-based Cheesecake Factory Inc. will pay a 5,000 penalty for making "false or misleading" disclosures about the impact of the COVID-19 pandemic on its business operations and financial condition.This is the first time the SEC has brought allegations against a public company for misleading investors about the financial effects of the pandemic.According to the SEC's order, the Cheesecake Factory restaurant group said in regulatory filings in March and April that its eateries were "operating sustainably," while failing to disclose that the company was losing roughly million in cash per week and had just 16 weeks of cash remaining.The order finds that although the company did not disclose the information in its filings, the group did share the particulars with potential private equity investors or lenders as it sought additional liquidity during the public health crisis.Without admitting the SEC's findings, the restaurant company agreed to pay the penalty and to cease-and-desist from further violations of the charged provisions. In determining to accept the settlement, the SEC said it considered the cooperation afforded by the company.A Cheesecake Factory representative pointed to a disclosure form filed Friday in which the company stated it was in full compliance with the cease- and-desist order and that the company "fully cooperated with the SEC in the settlement" without admitting or denying the regulators' allegations.The order also finds that although the March filing described actions the company had undertaken to preserve financial flexibility during the pandemic, it failed to disclose that Cheesecake Factory already had informed its landlords that it would not pay rent in April due to the impacts that COVID- 19 inflicted on its business."During the pandemic, many public companies have discharged their disclosure obligations in a commendable manner, working proactively to keep investors informed of the current and anticipated material impacts of COVID-19 on their operations and financial condition," SEC Chairman Jay Clayton said. "As our local and national response to the pandemic evolves, it is important that issuers continue their proactive, principles-based approach to disclosure, tailoring these disclosures to the firm and industry-specific effects of the pandemic on their business and operations. It is also important that issuers who make materially false or misleading statements regarding the pandemic's impact on their business and operations be held accountable."Cheesecake Factory had notified its landlords that it wouldn't pay rent on April 1 due to financial complications stemming from the coronavirus outbreak. A letter sent by Chief Executive David Overton to the restaurant group's landlords -- many of which are shopping mall operators -- was released publicly in March by Eater L.A.The company has 294 restaurants in North America, 39 in California and five in San Diego County.Its largest landlord is Indianapolis, Indiana-based real estate company Simon Property Group, which provides space for 41 Cheesecake Factory locations, according to the San Fernando Valley Business Journal."When public companies describe for investors the impact of COVID-19 on their business, they must speak accurately," said Stephanie Avakian, director of the SEC's Division of Enforcement. "The Enforcement Division, including the Coronavirus Steering Committee, will continue to scrutinize COVID- related disclosures to ensure that investors receive accurate, timely information, while also giving appropriate credit for prompt and substantial cooperation in investigations." 3725

LOS ANGELES, Calif. – Lifetime has announced its first holiday film centered around a same-sex couple.The network known for its Christmas movies said Monday that it has greenlighted “The Christmas Set Up.”The film will play on the old trope of finding love while returning home for the holidays. Lifetime provided this synopsis: 336

Looking to undermine rival Joe Biden 20 days before the election, President Donald Trump’s campaign has seized on a tabloid story offering bizarre twists to a familiar line of attack: Biden’s relationship with Ukraine. But the story in the New York Post raises more questions than answers, including about the authenticity of an email at the center of the story. The origins of the story also trace back to Trump lawyer Rudy Giuliani, who has repeatedly pushed unfounded claims about Biden and his son, Hunter Biden. Even if the emails in the Post are legitimate, they don’t validate Trump and Giuliani’s claims that Biden’s actions were influenced by his son’s business dealings in Ukraine.The email reportedly is from Vadym Pozharskyi, an adviser to Burisma’s board, and reads thank you "for inviting me to DC and giving an opportunity to meet your father and spent (sic) some time together. It’s realty (sic) an honor and pleasure.” The Biden campaign told the Associated Press that it could not find a meeting between the then vice president and Pozharskyi on Biden's schedule. Given that the emails came directly from Trump's representatives, there are questions on the authenticity of the emails, which the Post reports came from a device left by Hunter Biden at a repair shop. Meanwhile, Twitter and Facebook have announced that they're limiting the spread of the post while they work to validate the report's authenticity. Even if authentic, the report would appear to still violate Twitter's anti-hacking guidelines."The policy, established in 2018, prohibits the use of our service to distribute content obtained without authorization. We don’t want to incentivize hacking by allowing Twitter to be used as distribution for possibly illegally obtained materials," Twitter said in a statement. The social media platforms were criticized by Trump supporters on Wednesday for alleged censorship. 1911

LONDON (AP) — Queen Elizabeth II has made a knight of the 100-year-old World War II veteran who captivated the British public by walking 100 laps of his garden and raising some 33 million pounds ( million) for the National Health Service.The queen tapped the blade of a sword once owned by her father on the shoulders of Tom Moore on Friday to turn the hero of a nation into a knight of the realm.Moore steadied himself against his now-famous walker and wheeled himself close enough to stand in front of Elizabeth but skipped the normal practice of taking a knee before the monarch. 593

LOS ANGELES (CNS) - Achieving a feat that a human being might even find difficult, a mountain lion successfully managed to cross the San Diego (405) Freeway in the Sepulveda Pass, National Park Service officials announced Thursday. Researchers believe the lion known as P-61 managed to traverse the freeway from west to east between 2 and 4 a.m. July 19. According to the NPS, another lion named P-18 was fatally struck by a vehicle in the same area of freeway while attempting a crossing in 2011, and another lion that was not being tracked by researchers was struck and killed in 2009. The only other lion known to have crossed the 405 Freeway is Griffith Park's famed resident lion P-22. That lion was not being tracked with a GPS collar at the time, so little is known about where and when he made the trek. Researchers say DNA testing shows P-22 was born in the Santa Monica Mountains, so he must have crossed both the 405 and 101 Freeways to have reached Griffith Park. ``Although P-61 successfully crossed the 405, his feat is a reminder of how challenging Southern California's road network is for mountain lions and other wildlife as well,'' said Jeff Sikich, a biologist with the Santa Monica Mountains National Recreation Area. ``Others haven't been so lucky.'' The issue of extensive development and freeways acting as physical barriers to migration have long been identified as threats to the continued survival of mountain lions in the area. At least one study has suggested that the lions will be extinct within 50 years due to the lack of breeding partners, leading to rampant inbreeding among the current population. P-61 now inhabits an area between the 405 and 101 Freeways, where researchers say at least one other lion resides. That lion is not outfitted with a GPS collar and has only been seen on surveillance footage in the area over the past five years. ``It will be interesting to see if P-61 stays in the area, whether he decides to challenge the uncollared lion or if he heads back to the other side of the freeway,'' Sikich said. ``Although it's a relatively small area of habitat, it's certainly larger than the Griffith Park area and does have a patchwork of natural areas.'' P-61 is believed to be about 4 years old. The lion was first captured and fitted with a GPS collar in October 2017. 2330