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Disney Shareholders Ask for $262m in Damages

Disney Corporation shareholders suing the board of directors over the hiring and firing of former Disney President Michael Ovitz are pushing for the board to repay $262 million to the company, according to a report in the New York Post. The amount is equivalent to Ovitz’s $129.8 million severance pay plus accrued interest since his firing in 1996. Attorneys for Disney are scheduled to deliver their closing statements next month.

(via Internet Movie Database Daily Briefing)

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