JURIST Supported by the University of Pittsburgh
PAPER CHASE NEWSBURSTDigest RSS feedFull RSS feed
Serious law. Primary sources. Global perspective.


Monday, May 09, 2005

Former Disney directors sue Disney board for fraud in CEO search
Jamie Sterling at 3:44 PM ET

[JURIST] Former Walt Disney Company directors Roy Disney and Stanley Gold filed suit against current Disney directors [press release; SaveDisney.com advocacy website] including former Disney CEO Michael Eisner Monday for fraud and breach of duty in connection with the public disclosure of information concerning the election of a new CEO for the entertainment giant while searching for Eisner's replacement after his announced retirement [JURIST report]. Disney and Gold had previously announced that as shareholders they would withhold their votes on a new CEO [press release] until the "Disney Board adequately addressed the issues that resulted in the unprecedented vote of "No Confidence" [press release] at last year's annual meeting." The current suit alleges that the Disney Board disclosed false information about the CEO search to convince Disney shareholders to vote for the incumbent Board, while ignoring an alternate slate of directors introduced by Disney and Gold. The suit, filed in the Delaware Court of Chancery, asks that the 2005 Board elections [Disney press release] be declared null and void and that new elections be held. Bloomberg has more.






Link |  | print | subscribe | RSS feeds | latest newscast | Facebook page

For more legal news check the Paper Chase Archive...


LATEST LEGAL NEWS

 New Bolivia law allows president to run for third term
4:08 PM ET, May 21

 Guatemala court voids ex-dictator Rios Montt's genocide conviction
3:37 PM ET, May 21

 UN urges Afghanistan to approve women's rights legislation
9:02 AM ET, May 21

 click for more...

Get JURIST legal news delivered daily to your e-mail!

LATEST FORUM

The War on Terror and the Need for Muslim Support
DOMESTIC
Faisal Kutty
Valparaiso University Law School

ABOUT

Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible, ad-free format.

CONTACT

Paper Chase welcomes comments, tips and URLs from readers. E-mail us at JURIST@jurist.org