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Disney Shareholders Ask for $262m in Damages

by on March 8, 2005

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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