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Former McDonald's CEO Steve Easterbrook was charged by federal regulators for lying to investors about why he was fired.
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Easterbrook was fired in 2019 after violating company policy and having a relationship that involved a McDonald's employee.
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According to the separation agreement, Easterbrook was terminated without cause.
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He could retain more than $40 million in stock-based compensation, which he would otherwise have lost.
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Easterbrook told McDonald's he had never had any other relationships with subordinates when he was fired.
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A later investigation revealed that he had been lying.
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McDonald's sued Easterbrook for destroying evidence and concealing his relationships.