Court Clears Disney Board in Ovitz Hiring

In a court case that’s mostly moot now but could have set a precedent for corporate responsibility in Delaware (a state that is notoriously easy on corporations), the Delaware Supreme Court has backed a lower court decision that The Disney Board of Directors did not act irrationally when it hired and then fired Uber Hollywood Agent Michael Ovtiz. The termination cost the Mouse a huge sum in contracted early-termination fees which set off the original shareholder lawsuit. (Link)

See also Concurring Opinion. Hint. They’re not happy.
 

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