The fiduciary duty of oversight that historically has applied only to directors “applies equally to officers,” including chief compliance officers, the Delaware Court of Chancery explicitly held in a recent ruling.
The Jan. 26 decision by Vice Chancellor J. Travis Laster in the case McDonald’s Corporation Stockholder Derivative Litigation means shareholders can proceed to trial with their consolidated derivative lawsuit against David Fairhurst, the fast food chain’s former global chief people officer.
A second shareholder derivative lawsuit filed against McDonald’s current and former board members alleging breach of oversight duty was dismissed by Laster in a separate decision issued March 1. In that decision, Laster found the directors took steps to address the toxic culture.
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The Securities and Exchange Commission found McDonald’s violated federal securities law when it failed to fully disclose material factors regarding the firing of former Chief Executive Stephen Easterbrook in 2019.
McDonald’s has agreed to drop its lawsuit against disgraced former CEO Steve Easterbrook, who will return more than $105 million in equity and cash he received upon the termination of his employment in 2019.
A fresh podcast from the Theranos whistleblower and a new compliance association for Black practitioners get a round of applause from us this week, while a complicated case involving McDonald’s lands the company on both the “Nailed It” and “Failed It” lists.
Carolina Ceballos, the first full-time chief compliance officer at Paxos, shares with Compliance Week what the blockchain infrastructure platform does, its culture, and how it uses compliance as a competitive advantage.
Assessing allegations of data manipulation in psychological studies involving a Harvard Business School professor, Paul Eccleson asks whether we can trust research on behavioral science.
Sona Bedrossian, FlightHub Group’s general counsel and compliance officer, explains to Compliance Week how the online travel agency embeds compliance into its technology.
