Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Black franchisees at McDonald's file new discrimination lawsuit

Published 10/29/2020, 07:39 PM
Updated 10/29/2020, 09:45 PM
© Reuters. The McDonald's logo is seen outside the fast-food chain McDonald's in New York
MCD
-

By Jonathan Stempel

(Reuters) - McDonald's Corp (N:MCD) was hit on Thursday with a potentially multi-billion-dollar lawsuit by Black franchise owners who accused the fast-food giant of racial discrimination for steering them to underperforming stores.

The proposed class action led by James and Darrell Byrd, brothers with four McDonald's restaurants in Tennessee, was filed by the law firm representing 52 Black former franchisees who filed a similar lawsuit on Aug. 31.

McDonald's was accused of placing Black franchisees in undesirable inner-city locations with high security and insurance costs and below-average sales, and driving many away by failing to support them as debts rise and profits fall short.

Jim Ferraro, a lawyer for the plaintiffs, estimated that McDonald's has 186 Black franchisees in the United States, down from a peak of 377 in 1998, who own "700-plus" stores.

The lawsuit, filed in federal court in Chicago, where McDonald's is headquartered, seeks damages of $4 million to $5 million per store, potentially totaling more than $3 billion.

In a statement, McDonald's USA said it has an "obvious interest" in the franchisees' success, and invested significantly in the Byrds' franchises after they encountered difficulties. McDonald's said it will defend against the lawsuit.

McDonald's has taken steps this year to address concerns about its workplace culture, including updating its corporate values for the first time since 2008.

It has denied treating Black franchisees differently, while acknowledging it wants its franchisee ranks to become more diverse. McDonald's has also denied racial discrimination claims in a lawsuit filed in January by two Black executives.

"They've been on a massive PR campaign to clean up their image," Ferraro told reporters on a conference call. "This is actually a good thing, at some level, but not a good enough thing."

McDonald's sought last week to dismiss the lawsuit by the former franchisees, which seeks up to $1 billion in damages, saying it disclosed the risks of owning stores and did not set anyone up for failure.

© Reuters. The McDonald's logo is seen outside the fast-food chain McDonald's in New York

The case is Byrd et al v McDonald's USA LLC et al, U.S. District Court, Northern District of Illinois, No. 20-06447.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.