Subscribe
‘Enforcement 40’ for 2020
Our Sponsors
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedInNot Lovin’ It: SEC’s Settlement With McDonald’s Former CEO Highlights Continued Focus on Executive-Related Disclosures | Vinson & Elkins LLP
The Order is instructive for both executives and issuers. For one, the Order demonstrates that public company executives must tell the full truth in internal investigations—even when doing so may have professional and personal implications. Failure to be candid may lead not only to civil enforcement by the SEC but also—like it did for Easterbrook—a […]
McDonald’s, SEC Saga Creates Reporting Headaches for Companies
The SEC’s unprecedented finding that McDonald’s didn’t disclose enough information about a CEO firing is prompting questions about whether companies have sufficiently clear guidance on what to tell investors in similar situations. The fast food giant deemed its 2019 firing of Steve Easterbrook—for having a relationship with a subordinate—as termination “without cause.” That allowed Easterbrook […]
Everything is securities fraud – Bloomberg
When I write about this, sometimes I get complaints from securities lawyers who say “no, securities fraud doesn’t work that way: You are not required to disclose everything immediately, and it is only securities fraud if the company puts out some misleading disclosure. Just not mentioning a bad thing is not fraud.” 6 And so in […]