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Hakeem Says State Should Divest Itself Of Nearly $80 Million In McDonald s Stock Due To Allegations By Black Franchisees
Wednesday, December 9, 2020
Rep. Yusuf Hakeem said the state should divest itself of almost $80 million in McDonald s Restaurant stock because of allegations in a lawsuit brought by some Black franchiees.
His letter says:
Dear Treasurer Lillard,
I write to concur with the request made of you by Representative Towns in September of this year to reconsider the Tennessee Treasury s investment in McDonald s stock.
The allegations in the amended complaint filed against McDonald s on behalf of 77 former Black franchisees are disturbing, and even more troubling is the significant decline in the number of McDonald s Black franchisees. I share the concern expressed by Representative Towns that the Tennessee Treasury currently holds nearly $80 million of McDonald s stock and I likewise believe we should use this moment to take ....

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