Disney filed suit against 20 Arvida executives.

Walt Disney Co. filed the suit in an attempt to deny the executives, including company President John Temple, more than $20 million in Disney stock purchase options. Disney, Arvida Corp.'s parent company, alleges that the executives are not entitled to stock options because Arvida is being sold to JMB Realty before the options can be exercised. According to the lawsuit, filed in federal court in Jacksonville, Fla., the Arvida executives were awarded stock options two years ago to buy Disney stock beginning Nov. 27, 1987. Disney is claiming that those rights were canceled once Arvida was sold.

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