Disney shareholders appeal ruling on Ovitz severance

[JURIST] Walt Disney [corporate website] shareholders have appealed a ruling by a Delaware court that the company's directors were not liable [JURIST report] for approving a $130 million severance package for former President Michael Ovitz [Wikipedia backgrounder]. The appeal sought to have the ruling overturned on procedural and evidentiary grounds. Ovitz served as president of the company for 14 months before leaving in 1996. Reuters has more.

 

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