Several shareholders have filed a lawsuit against Chipotle executives claiming they conspired to award themselves, “hundreds of millions of dollars through a corrupt stock incentive plan” with negative financial consequences for investors, customers and the company as a whole.
The complaint, first reported by Colorado Public Radio, also alleges that Chipotle co-CEO and founder Steve Ellis sold $78.3 million in company shares, “while the stock price was artificially inflated and before the fraud was exposed.”
Chipotle is no stranger to its investors being mad at it.
After separate outbreaks of Salmonella, Norovirus and E. coli sickened hundreds of hungry customers across the nation in late 2015, Chipotle’s stocks, much like its food, were in the toilet for months. In January, Chipotle was sued for allegedly defrauding its investors by failing to disclose that their burrito bowls are suspiciously like petri dishes.