Legal Opinion
In Re the Walt Disney Co. Derivative Litigation
Court of Chancery of Delaware
Decided May 28, 2003No. C.A. 15452PublishedCited by 90 opinions
1Opinion of the Court
MEMORANDUM OPINION
CHANDLER, Chancellor.
In this derivative action filed on behalf of nominal defendant Walt Disney Company, plaintiffs allege that the defendant directors breached their fiduciary duties when they blindly approved an employment agreement with defendant Michael Ovitz and then, again without any review or deliberation, ignored defendant Michael Eisner’s dealings with Ovitz regarding his non-fault termination. Plaintiffs seek rescission and/or money damages from defendants and Ovitz, or compensation for damages allegedly sustained by Disney and disgorgement of Ovitz’s unjust…
2Cases cited11 opinions
- Aronson v. LewisSupreme Court of Delaware · 1984
- Brehm v. EisnerSupreme Court of Delaware · 2000
- Malpiede v. TownsonSupreme Court of Delaware · 2001
- Grobow v. PerotSupreme Court of Delaware · 1988
- Guttman v. HuangCourt of Chancery of Delaware · 2003
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3Cited by90 opinions
- Beam Ex Rel. M. Stewart Living v. StewartSupreme Court of Delaware · 2004
- In Re Walt Disney Co. Derivative LitigationSupreme Court of Delaware · 2006
- In Re Bank of America Corp. Securities, Derivative, & Employee Retirement Income Security Act (ERISA) LitigationDistrict Court, S.D. New York · 2010
- In Re Walt Disney Co. Derivative LitigationCourt of Chancery of Delaware · 2005
- In Re Tyson Foods, Inc. Consolidated Shareholder LitigationCourt of Chancery of Delaware · 2007
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