Delaware Court Allows Disney/Gold Lawsuit to Go Forward
The Delaware Chancery Court has ruled that the lawsuit brought by Roy E. Disney and Stanley P. Gold against the Walt Disney Co. and eight directors can go forward with an expedited trial date of August 2005.
The lawsuit, which was filed on May 9, 2005, alleges that the Walt Disney Co. board made false statements to the company's shareholders about its ceo search in order to induce shareholders to vote for the incumbent board at the 2005 annual meeting and to induce Disney and Gold not to run an alternate slate of directors at the meeting.