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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 (AP) — A homeless woman whose angelic singing in a Los Angeles subway was captured on video is being offered praise and help.About ,000 has been raised on GoFundMe accounts for Emily Zamourka since a Los Angeles police officer recorded her singing Puccini in a Metro station in Koreatown last week.The 52-year-old Zamourka says she is from Russia and used to make ends meet by teaching music and playing her beloved violin on the streets until it was stolen and smashed several years ago.She later got behind in the rent and was evicted. She took to singing despite her lack of formal training.Her video has sparked a groundswell of well-wishers who want to help Zamourka find a new home — and a violin.4 million people call LA home. 4 million stories. 4 million voices...sometimes you just have to stop and listen to one, to hear something beautiful. pic.twitter.com/VzlmA0c6jX— LAPD HQ (@LAPDHQ) September 27, 2019 940

LOS ANGELES -- Fire crews are on scene after a small brush fire broke out in a Los Angeles neighborhood Wednesday night. The fire broke out just before 6:30 p.m. in Pacific Palisades. The fire was originally reported as a half-acre fire. In an alert sent out by the Los Angeles Fire Department, officials said there was no threat to structures. Watch a Facebook live of the brush fire in the player below: 439
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
Live Nation, the parent company of Ticket Master and the owner of dozens of concert venues across the country, said in a press release Wednesday that it was working with local governments in the hopes that its venues could be used as polling places in the upcoming election.So far, Live Nation says that four of its concert venues — The Wiltern and Hollywood Palladium in Los Angeles, Emo’s in Austin and the Buckhead Theatre in Atlanta — will be used as polling stations this November. A fifth venue, The Fillmore in Philadelphia, "is in the final stages of the vetting process."In addition, the company says it is working with local officials across the country to "determine the feasibility" of using 100-plus Live Nation venues as polling places. Live Nation did not specify which locations were being considered, or how many venues they believed would be approved as polling locations.Live Nation added it was partnering with More Than A Vote in their efforts to expand polling locations. More Than A Vote is a coalition of Black athletes led by LeBron James that are aiming to increase participation in the 2020 election among minorities.As part of an agreement to restart the 2020 NBA season, James and other players pushed for the league to adopt a provision in which it would explore ways that teams could use their arenas as polling places during the 2020 election. According to CBS News, about a dozen NBA arenas will host voters on election day, and several more will serve as early voting centers ahead of Nov. 3.However, several NBA teams have been told that they are not able to participate. The Miami Heat were recently told by Miami-Dade County in Florida that a nearby museum center would be used as a polling place instead of their arena. 1765
来源:资阳报