Ruling Expected Today in Ovitz Severance Suit
From a Times Staff Writer
A long-awaited judge’s decision is expected today in a shareholder lawsuit over the severance package paid to former Walt Disney Co. President Michael Ovitz.
Plaintiffs’ lawyers argued that Ovitz’s severance, which they valued at $140 million, was excessive and that Disney directors failed to properly monitor his hiring in 1995 and firing a little more than a year later by Chief Executive Michael Eisner.
The decision is being issued by Delaware Chancery Court Judge William B. Chandler.
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