Cheesecake Factory to Delay Earnings

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The Cheesecake Factory Inc. said Monday that it is delaying the release of its third-quarter financial results due to a probe of its stock-option grants. The results were scheduled to be released Tuesday but have been postponed until Nov. 13.


The Calabasas-based casual dinning restaurant chain owner will also release its second-quarter numbers, which were also delayed, on that date.


Cheesecake Factory said that it is waiting for the audit committee of its board, together with a specially appointed outside legal counsel, to complete a review of the company’s historical stock option granting practices, which it announced on Aug. 13 after the Securities and Exchange Commission said it would be conducting an investigation into the company’s practices.


Shares in the company were flat at $26.26 in early trading Monday and are down nearly $10 a share from a year ago.

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