Tuesday November 9, 09:13 PM
Court rules in favor of Roy Disney
NEW YORK (AFX) -- Former Walt Disney board members Roy Disney and Stanley Gold said Tuesday that the Delaware Supreme Court has ruled in favor of Roy Disney in their ongoing dispute with the entertainment and media company.
The two said Delaware's top court had denied the company's motion to affirm a ruling by the Delaware Court of Chancery.
Roy Disney added that the court agreed to hear his appeal that he be allowed to disclose certain information obtained from the corporation. The chancery court had previously denied his petition to disclose this information.
'I am gratified that the Delaware Supreme Court will be considering on the merits the important issues we have raised concerning stockholder rights to examine and utilize corporate books and records under Section 220 of the Delaware General Corporation Law,' Roy Disney said in a statement.
A spokesman for Walt Disney couldn't immediately be reached for comment.
Roy Disney and Gold have waged a relentless campaign to bring serious changes to the business. They have been vocal opponents of Michael Eisner, the chief executive of Disney.
Eisner relinquished his title of chairman after Walt Disney shareholders gave him a vote of no confidence at the March shareholder meeting in Philadelphia.
Court rules in favor of Roy Disney
NEW YORK (AFX) -- Former Walt Disney board members Roy Disney and Stanley Gold said Tuesday that the Delaware Supreme Court has ruled in favor of Roy Disney in their ongoing dispute with the entertainment and media company.
The two said Delaware's top court had denied the company's motion to affirm a ruling by the Delaware Court of Chancery.
Roy Disney added that the court agreed to hear his appeal that he be allowed to disclose certain information obtained from the corporation. The chancery court had previously denied his petition to disclose this information.
'I am gratified that the Delaware Supreme Court will be considering on the merits the important issues we have raised concerning stockholder rights to examine and utilize corporate books and records under Section 220 of the Delaware General Corporation Law,' Roy Disney said in a statement.
A spokesman for Walt Disney couldn't immediately be reached for comment.
Roy Disney and Gold have waged a relentless campaign to bring serious changes to the business. They have been vocal opponents of Michael Eisner, the chief executive of Disney.
Eisner relinquished his title of chairman after Walt Disney shareholders gave him a vote of no confidence at the March shareholder meeting in Philadelphia.
