LOS ANGELES, Oct 7 (Reuters) - Walt Disney Co.(DIS.N: Quote, Profile, Research) shareholders suing over the $140 million severance package given to former president Michael Ovitz have asked a Delaware judge to delay an Oct. 18 trial in order to study recently produced files, according to a letter released on Thursday.
Shareholders in the ongoing lawsuit filed in 1997 accuse the Disney board of negligence in hiring Ovitz and in giving him the severance package in cash and stock options after less than two years on the job.
Lawyers for Milberg Weiss, which represents plaintiffs in the class-action suit, asked Delaware Chancery Court Chancellor William Chandler for the postponement in order to study personal files by Ovitz that they said potentially could be produced or referred to during the trial.
Shareholders in the ongoing lawsuit filed in 1997 accuse the Disney board of negligence in hiring Ovitz and in giving him the severance package in cash and stock options after less than two years on the job.
Lawyers for Milberg Weiss, which represents plaintiffs in the class-action suit, asked Delaware Chancery Court Chancellor William Chandler for the postponement in order to study personal files by Ovitz that they said potentially could be produced or referred to during the trial.