Lawyer Defends Ovitz’s Disney Severance
From Bloomberg News
Former Walt Disney Co. President Michael Ovitz did nothing wrong in taking a $140-million severance package from the Burbank-based media company and investors suing him can’t prove otherwise, Ovitz’s lawyer told a Delaware judge.
Investors want Ovitz to return his pay and severance, contending that he violated his legal obligations to Disney by changing the terms of his compensation and severance after he joined the company. A trial is set for Oct. 18.
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