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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

LOS ANGELES (AP) — Authorities identified five additional victims Tuesday as divers searched for the last missing passenger who died in a fatal boat fire off the coast of California.As the families mourned, officials pursued a criminal investigation into the blaze that killed 34 people on Labor Day.Santa Barbara County Sheriff Bill Brown said the victims, 21 women and 13 men from 16 to 62 years old, appear to have died from smoke inhalation before they were burned. Five of six crew members, including the captain, survived after multiple efforts to rescue the dozens trapped below deck.Authorities said efforts to find the final victim and salvage the Conception are expected to continue Wednesday.The five additional victims, all from California, are Adrian Dahood-Fritz, 40, of Sacramento; Lisa Fiedler, 52, of Mill Valley; Kristina "Kristy" Finstad, 41, of Tamrick Pines; Fernisa Sison, 57, of Stockton, and Kristian Takvam, 34, of San Francisco.Finstad, a marine biologist who led the scuba tour, had led hundreds of dives in the Channel Islands. She had just returned from spending several years sailing across the Pacific with her husband.Fiedler, a Michigan native, was a hairdresser and photographer who thought of herself as "part fish" because of her ocean addiction.The other three victims identified Tuesday were on the boat with coworkers and loved ones.Sison's husband, Michael Quitasol, and her three stepdaughters also perished in the fire. Sison and Quitasol worked at St. Joseph's Medical Center in Stockton.Dahood-Fritz and her husband, professional photographer Andrew Fritz, also both died in the blaze. Dahood-Fritz had recently started a job as a senior environmental scientist for California's Ocean Protection Council under the California Natural Resources Agency.Takvam was a vice president of engineering at the education platform Brilliant in San Francisco. His coworker, Carrie McLaughlin, also died.Authorities were working to identify the last victims and release their remains to families.As part of the investigation, the FBI is seeking photos and videos related to the fire as multiple agencies examine whether the captain and boat owners followed safety requirements. 2215

LONDON (AP) — Anti-racism protesters in southwestern England have pulled down the statue of a slave trader and then dumped it into a harbor. The toppling of Edward Colston's statue was greeted with joyous scenes Sunday. Demonstrators attached ropes to the statue before pulling it down. Footage of the moments after the statue crashed to the ground saw hundreds, if not thousands, of local residents in ecstasy. The statue was then rolled into the nearby Bristol Harbor. Police said officers have launched an investigation and are looking for those who “committed an act of criminal damage.” 600

LOS ANGELES (AP) -- An organizer of a Southern California demonstration against racism has been jailed on suspicion of attempted murder after authorities say she drove through a crowd and struck two counterprotesters.Tatiana Turner was behind bars Sunday after speeding from a Yorba Linda parking lot when her car was surrounded by shouting counterprotesters who had been among demonstrators ordered by police to leave the area.Anthony Bryson, who helped Turner plan the event, said an angry mob surrounded her car and she fled because she feared for her life.Authorities say a man and woman hospitalized were expected to survive. 638