Shareholders Revive Old Grievances in Disney Suit

Law360, New York (January 25, 2006, 12:00 AM EST) -- Walt Disney Co.’s trouble over ex-President Michael Ovitz’s $130 million severance package isn't over yet. Attorneys representing shareholders in the media and entertainment giant have asked Delaware’s high court to reverse a ruling that cleared the company’s board of directors of any ill intent when they okayed the astronomical payout 10 years ago.

Steven Schulman, an attorney with the New York office of Milberg Weiss Bershad & Schulman, contended before the five justices of the Delaware Supreme Court that the rule used to prove the Disney...
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