Former McDonald’s CEO Agrees to Pay $52.7 Million in Settlement with SEC

McDonald’s (MCD) former CEO Stephen Easterbrook agreed to repay more than $52.7 million in a settlement with the U.S. Securities and Exchange Commission over investor fraud allegations.

The agency alleges that Easterbrook defrauded the company’s investors by lying about sexual relationships with company subordinates while he was CEO, resulting in a separation compensation that he should not have received because of the alleged fraud.

The conflict — that the company at the time said was related to a single relationship that violated company policy — led McDonald’s board to oust him from the company in November 2019.

Read the source article at finance.yahoo.com