Ovitz Flap biggest losers

I’ve been watching the Ovitz payout shareholder lawsuit with only mild curiosity. I know it holds big importance in the future of board governance for all corporations, I know that a few juicy gossipy details have emerged, but it’s not going to result in any significant change in the way the Walt Disney Company is run going forward. Frankly, I’d rather see daily coverage of the search for the next CEO.

Here’s another story in that vein. As you would expect, boards of directors have insurance to protect them from having to make the big payouts if they ever lose a case like this. Of course that means the insurance company, AIG in this case, has a vested interest in the outcome. This story mentions that AIG is keeping a close eye on testimony to find a way to accuse the Disney Board of negligence so AIG won’t have to pay out. It certainly ads another dimension to the case.