WEST PALM BEACH, Fla. — The company that owns BurgerFi restaurants bought the chain of Anthony's Coal Fired Pizza & Wings in 2021.
Investors claim they were misled about profits from the acquisition. They're now suing for the money they claim they lost.
Noontime diners at the BurgerFi franchise in Palm Beach Gardens weren't sure if the suit against its parent company even matters to them.
"Will it change my eating habits? No," Matt Fajardo, who works near the restaurant, said Tuesday.
"No. I don't care about that," Schnydeen Bancal, who works at a medical clinic, added.
This suit, filed by a New York investor, alleges BurgerFi's parent company "overstated the effectiveness of its acquisition and growth strategies" and "misrepresented to investors the purported benefits of Anthony's acquisition."
"It's only dealing with the investors of the class-action lawsuit," attorney Kelly Hyman, who works with class-action lawsuits, said.
After BurgerFi bought Anthony's, the suit claims, BurgerFi sales fell — as did its stock price — by more than 10%.
Hyman said anyone with BurgerFi stock could become a plaintiff in the suit.
"The class members would receive notification, notice," Hyman said. "If you are a member of a class-action lawsuit, it's important to get notified as well."
A BurgerFi representative emailed the following statement to Contact 5:
“The company believes the claims relating to the recently filed class action lawsuit are without merit and intends to defend the matter vigorously.”
Both companies are headquartered in Fort Lauderdale. BurgerFi had its corporate headquarters in North Palm Beach until its relocation last year.
Diners said as long as the food suits their taste and prices don't get too high, they'll continue to be customers.