FDD Items 3 & 4 · 2025 filing
Waffle Love litigation history
What Waffle Love disclosed about lawsuits, arbitrations and bankruptcy in the 2025 Franchise Disclosure Document. Item 3 lists the material legal actions a franchisor must report; Item 4 covers bankruptcy. This is the franchisor's own disclosure, not a court record, and not legal advice.
Items 3 & 4 at a glance
What the filing discloses
- Cases disclosed
- 1
- Item 3, as counted in the filing
- Largest disclosed settlement
- None stated
- Bankruptcy (Item 4)
- None
- Franchisor, parent, predecessor or officer
- Filing year
- 2025
- Disclosures cover the prior ten years
Extracted from the 2025 Franchise Disclosure Document
Item 3: litigation
Brent Wight et al vs. Adam Terry et al., Case No. 220400233 (converted to 220100026), filed February 16, 2022 in Fourth Judicial District Court of Utah County. Claims include breach of fiduciary duties, conversion, breach of contract, and unjust enrichment. Receiver (CFO Solutions, LC dba Ampleo) appointed September 11, 2023. Asset sale approved October 8, 2024 and transferred October 22, 2024 to KSBW Management Inc. Fact discovery completed, settlement discussions ongoing.
Disclosure signals that moved the score
How this shows up in the verdict
- Litigation with receiver appointed (fiduciary duty/conversion claims)
The verdict grade is FranchiseVerdict's editorial assessment across SBA loan performance, unit growth, revenue and disclosure signals. It is not investment advice.
Before you weigh a lawsuit
How to read Item 3
A franchisor must disclose pending actions and any material civil action involving the franchise relationship, plus convictions or civil judgments for fraud, unfair or deceptive practices, or franchise-law violations, going back ten years. A case the franchisor brought against a franchisee counts too. Item 3 does not include every dispute: settled claims below the materiality line and matters resolved in private arbitration can be absent.
Questions worth asking current and former franchisees, using the contact list in Item 20:
- Were you, or anyone you know in the system, party to a dispute with the franchisor?
- Was it resolved by settlement, arbitration or a court, and on what terms?
- Has the number of disputes gone up or down since you signed?