The Securities and Exchange Commission Monday charged former McDonald’s CEO Stephen Easterbrook with making “false and misleading statements” to investors for allegedly failing to disclose the extent of his romantic relationships with employees prior to his 2019 termination.
The SEC charged Easterbrook Monday with violating the anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. Easterbrook has been fined $400,000 by the agency.
The SEC also charged McDonald’s for shortcomings in its public disclosures about Easterbrook’s termination, although the company was not fined due to its “substantial cooperation” during the agency’s investigation and because it had already recovered compensation Easterbrook received from his original separation agreement.
