McDonald’s Asks Judge To Dismiss Black Ex-Franchisees’ Discrimination Lawsuit [Forbes]
McDonald's Corporation (MCD)
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Source: Forbes
ToplineMcDonald’s on Friday asked a judge to dismiss a landmark racial discrimination lawsuitfiledMcDonald's logo on March 28, 2020.Photo Illustration by Jakub Porzycki/NurPhoto via Getty ImagesKey Facts52 Black former franchisees across 18 states accused McDonald’s of putting them in economically bereft neighborhoods with lower sales and higher security costs while depriving them of the same growth opportunities offered to white franchisees.In a court filing Friday, McDonald’s argued it made the risks of owning a franchise clear, and said the lawsuit doesn’t point to any specific promises broken and contains claims outside the statute of limitations.McDonald’s also argued it had no incentive to let franchisees fail because it would hurt the overall business.In a public statement after the lawsuit was filed, McDonald’s said the company only makes recommendations and does not actually place franchisees into franchises.The lawsuit is seeking more than $800 million in compensatory damage
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MCD
News
- McDonald's Co. (NYSE: MCD) had its price target lowered by analysts at Wedbush from $330.00 to $300.00. They now have an "outperform" rating on the stock.MarketBeat
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MCD
Earnings
- 2/5/24 - Beat
MCD
Sec Filings
- 4/23/24 - Form 144
- 4/23/24 - Form 4
- 4/18/24 - Form PX14A6G
- MCD's page on the SEC website