Foot Locker agreed to pay the U.S. Securities and Exchange Commission (SEC) $148,000 after requiring departing employees to waive their right to seek the commission’s whistleblower awards as a condition of receiving severance.
Approximately 148 senior executives, directors, and employees in divisions including legal, finance, operations and supply chain, who separated from Foot Locker between July 2020 and June 2024, were subjected to the illegal phrasing, the SEC said in a May 22 administrative proceeding. Foot Locker, an athletic shoe retailer based in New York, is a wholly-owned subsidiary of Dick’s Sporting Goods.
