Disney/Gold lawsuit given the green light

[wendybeth]

Looks like Eisner should just take up residence in Delaware: Delaware court approves lawsuit


"In his ruling, Chancellor Chandler stated, " ... plaintiffs have alleged facts suggesting that the Company's board did not go about the process of searching for a new CEO with 'open minds,' without prior determinations and giving "full consideration" to external candidates. The complaint alleges that only one external candidate was interviewed, that Mitchell told that candidate 'she was not a serious candidate,' and that Eisner's presence at interviews of external candidates, "was intended to chill and did chill full consideration of qualified external candidates for the position of CEO.'" "Should these allegations be proven, plaintiffs could be entitled to the relief they seek because the board's statements materially misled plaintiffs with respect to the board's intent to conduct a bona fide executive search process."