Trial Set for Disney Investors’ Lawsuit
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From Bloomberg News
Walt Disney Co. investors’ lawsuit that claims directors of the No. 2 U.S. media company are liable for former President Michael Ovitz’s $140-million severance package has been scheduled for trial Oct. 18.
Delaware Chancery Court Judge William B. Chandler III set the trial date for investors’ claims that the company’s board shouldn’t have approved Ovitz’s compensation and severance packages before he became then-Chairman Michael Eisner’s second-in-command in 1995.
Ovitz left the company 14 months later.
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