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The Securities and Exchange Commission is charging McDonald’s former CEO Stephen Easterbrook with making false and misleading statements to investors about the circumstances leading to his firing in November 2019
Former McDonald's CEO Stephen Easterbrook has been charged by federal regulators with making false and misleading statements to investors about the extent of his employee romances.
Stephen Easterbrook, who is the former chief executive officer of McDonald's, was slapped with a fine by the authorities in the United States on Monday (January 9). The authorities accused him of defrauding investors in connection with his termination in 2019 and further barred him from serving as a public company officer for five years. Reports mentioned that he agreed to a $400,000 fine. Though, he didn't admit or deny the claims against him under a settlement announced by the US Securities and Exchange Commission.
In addition to his financial penalty, as part of the settlement, Easterbrook agreed to a five-year ban from serving as an officer or director.
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The SEC also charged McDonald’s for shortcomings in its public disclosures about Easterbrook’s termination.