Disney Directors Absolved of Personal Liability
- Posted by Geoffrey G. Gussis on August 9th, 2005
- Filed in Corporate/M&A
The CorporateCounsel.net Blog announces the big corporate news of the day - and corporate directors everywhere are breathing a sigh of relief. Delaware Chancery Court Chancellor William Chandler "delivered his
long-awaited opinion in the Disney case by holding that the Disney
directors didn’t violate their duties by ratifying Eisner’s decision to
fire Ovitz in a way that entitled Ovitz to a huge severance package."
Practical Steps for Directors to Consider After Disney
More Discourse on the Disney Decision (Everything but Daffy Duck)
Iger’s Disney Employment Contract
Are you in the Zone? Additional Duties Imposed on Directors of a Corporation in the “Zone of Insolvency”
Corporate Lawyers Jettisoning Board Seats
August 10th, 2005 at 3:36 pm
Disney Directors Off the Hook
Delaware Chancery Court has spoken. Disney’s Board of Directors will not have to repay the whopping $140 severance package it paid to Michael S. Ovitz, former company president fired by CEO Michael Eisner (PDF copy of the Delaware Chancery Court’s