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SEC Challenged on Disney Issue

By Richard Verrier
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Four public pension funds asked the Securities and Exchange Commission to reconsider its support for Walt Disney Co.’s decision to exclude from its proxy a resolution that would allow shareholders to nominate up to two board members.

Wednesday’s request came after the SEC’s staff reversed itself and sided with Disney. Funds, including the powerful California Public Employees’ Retirement system, contend the SEC didn’t explain its reasoning.

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-- Richard Verrier

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Richard Verrier

Richard Verrier is investigations editor for Arts and Entertainment at the Los Angeles Times. He has been with The Times since 2001 and has run our Company Town since 2016. After stints at the St. Petersburg Times and the Orlando Sentinel in Florida, Verrier joined the paper as a reporter, and for many years covered all aspects of the entertainment industry before turning to editing. He oversees the Company Town coverage while working to guide and edit investigative and enterprise reporting across the entertainment team, collaborating with writers and editors from all departments. He is a native of Montreal and a graduate from the University of Toronto and Columbia University’s Graduate School of Journalism.

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