NEW YORK, Aug. 25, 2020 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of McDonald's Corporation ("McDonald's" or the "Company") (NYSE: MCD). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether McDonald's and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On November 3, 2019, McDonald's announced the termination of Steve Easterbrook from his role as McDonald's Chief Executive Officer, finding that Easterbrook had "demonstrated poor judgment" in engaging in a consensual relationship with a McDonald's employee, in violation of Company policy. On this news, McDonald's stock price fell $5.28 per share, or 2.72%, to close at $188.66 per share on November 4, 2019.
Then, on August 10, 2020, McDonald's sued Easterbrook in Delaware Chancery Court seeking to recoup a severance package worth more than $40 million, alleging, among other things, that Easterbrook had concealed details of three "physical sexual relationships" with employees and had awarded stock valued at hundreds of thousands of dollars to one of the employees.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP