The Securities and Exchange Commission charged former McDonald's CEO Steve Easterbrook for misleading investors about why he was fired in November 2019.
"Easterbrook knew or was reckless in not knowing that his failure to disclose these additional violations of company policy prior to his termination would influence McDonald’s disclosures to investors related to his departure and compensation," the SEC said.
In 2021, Easterbrook has paid back more than $105 million in equity awards and cash to the burger giant for lying about the extent of his misconduct while he was its top executive. "The SEC’s Order reinforces what we have previously said: McDonald’s held Steve Easterbrook accountable for his misconduct," McDonald's said in statement. "We fired him, and then sued him upon learning that he lied about his behavior." GET FOX BUSINESS ON THE GO BY CLICKING HERE
The SEC also charged McDonald's "for shortcomings in its public disclosures related to Easterbrook’s separation agreement." However, the commission decided not to impose any financial penalties on the company due to its "substantial cooperation" during the course of its investigation. The SEC "recognized the company’s substantial cooperation as well as the affirmative action taken by the company to recover value for its shareholders by suing Easterbrook," McDonald's added.
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SEC charges former McDonald's CEO Stephen EasterbrookMcDonald’s former CEO Stephen Easterbrook has been charged by federal regulators with making false and misleading statements to investors about the circumstances leading to his firing in November 2019.
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SEC charges former McDonald's CEO Easterbrook with misleading investorsFormer McDonald's CEO Stephen Easterbrook has been charged by federal regulators with making false and misleading statements to investors about the circumstances of firing by the burger giant in November 2019.
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SEC charges former McDonald's CEO Easterbrook with misleading investorsFormer McDonald's CEO Stephen Easterbrook has been charged by federal regulators with making false and misleading statements to investors about the circumstances of firing by the burger giant in November 2019.
Baca lebih lajut »
SEC charges former McDonald's CEO Easterbrook with misleading investorsFormer McDonald's CEO Stephen Easterbrook has been charged by federal regulators with making false and misleading statements to investors about the circumstances of firing by the burger giant in November 2019.
Baca lebih lajut »
SEC charges former McDonald's CEO Easterbrook with misleading investorsFormer McDonald's CEO Stephen Easterbrook has been charged by federal regulators with making false and misleading statements to investors about the circumstances of firing by the burger giant in November 2019.
Baca lebih lajut »
SEC charges former McDonald's CEO Easterbrook with misleading investorsFormer McDonald's CEO Stephen Easterbrook has been charged by federal regulators with making false and misleading statements to investors about the circumstances of firing by the burger giant in November 2019.
Baca lebih lajut »