Disney pay-off case sets a precedent for US firms
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THERE was room for only 50 people in the tiny Georgetown, Delaware, courtroom last week to hear Walt Disneyâs former president describe bitterly how his 14-month tenure ended.
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Description: Disney CEO Michael Eisner testifies in a Delaware courtroom about his former friend and No. 2 man, Michael Ovitz. Disney faces a shareholder suit over the severance package Ovitz received when he left the company in 1996.
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The company has earned its nosebleed valuation.
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A US court's ruling ordering Microsoft to pay out $1.5bn for infringing MP3 patents could have widespread effects on the technology sector.
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The courtroom drama of shareholders vs. Disney&#39;s battling Mikes - Michael Ovitz and Michael Eisner â-as become a can&#39;t-miss reality show for entertainment industry executives.
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Ernst &amp; Young LLP (ERNY.UL: Quote, Profile, Research) , one of the four largest US accounting firms, agreed Friday to pay a total of $125 million to settle US claims arising
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GEORGETOWN, Del., Nov. 17 -- Lawyers for plaintiffs in a shareholder suit over Michael S. Ovitz's $140 million severance package from the Walt Disney Co. suggested on Wednesday that Disney chief executive Michael D. Eisner may have viewed his former protege as threatening.
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Management is trying to turn things around, but the company's paying for past mistakes.
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The trial over the severance package of Michael S. Ovitz, Disney's former president, signals the end of an era in which executives managed their companies as personal fiefs.
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Once a no-lose situation for both management and employees, defined-benefit pension plans are now threatening to cripple some US corporations.
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The company says it is discussing a settlement with the Justice Department.
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The US Supreme Court agreed Friday to consider a case likely to have a significant impact on the music, video and electronics industries.
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The Walt Disney Co. said that changes will be made to some of its executives&#39; compensation plans, switching to a performance-based model that the company hopes will assuage
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The defendants include former and current employees at major Wall Street firms such as Morgan Stanley and Oppenheimer.
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GEORGETOWN, United States : A law suit against the Walt Disney Co. over 140 million dollars paid to former president Michael Ovitz started, seven years after shareholders brought the action.
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Walt Disney Co. shareholders are to finally get their day in court, seven years after suing the company for allegedly wasting corporate assets by buying out the contract of former president Michael Ovitz for 140 million dollars.
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A Delaware court next Monday will begin considering the shareholder lawsuit over the $140 million severance that Walt Disney paid its former president Michael S. Ovitz.