Shareholder Suit Targets $4B Disney, Marvel Deal

Law360, New York (September 10, 2009, 5:49 PM EDT) -- Seeking to block the proposed $4 billion merger between Marvel Entertainment Inc. and the Walt Disney Co., Marvel shareholders have filed a suit claiming that, given Marvel's intellectual property portfolio, the company should have held out for a better deal.

The lawsuit, filed in the Court of Chancery of the State of Delaware Tuesday, alleges that various officers and directors at Marvel breached their fiduciary duties to Marvel shareholders by failing to push for maximum value in the deal, and failing to conduct an appropriate sale...
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