Disney/Gold lawsuit given the green light

wendybeth · 06-06-2005, 04:52 PM

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."

scaeagles · 06-06-2005, 06:26 PM

At least you have a descriptive thread title this time.

wendybeth · 06-06-2005, 06:58 PM

Brat.

Prudence · 06-06-2005, 07:59 PM

Anyone know why it was filed in Delaware? Is Disney incorporated there? Do people live there? I'm too lazy to look it up.

wendybeth · 06-06-2005, 08:27 PM

Quite a few companies are incorporated there, along with the WDC. They have an interesting court system as well: Delaware, incorporated

Prudence · 06-06-2005, 10:34 PM

I was wondering if that was it. We read a lot of corporate cases out of DE in our civpro class and I was wondering if it was just coincidence (like the editors live there) or if there really was some wackiness with DE corporate law that made companies with primary places of business across the country incorporate in Deleware.

wendybeth · 06-06-2005, 10:53 PM

It's interesting that this same judge has yet to issue his verdict in the Ovitz trial. What the hell is taking him so long?

Name · 06-07-2005, 07:16 AM

There are numerous advantages to incorporating as a delaware corporation. I don't remember all of them, but most fall in tax rules, as well as other rules, delaware has some of the most corporation friendly rules out there. Just FYI, California has some of the least friendly rules.

06-06-2005, 04:52 PM	#1
wendybeth Nevermind Join Date: Jan 2005 Posts: 7,847	Disney/Gold lawsuit given the green light 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." __________________
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06-06-2005, 06:26 PM	#2
scaeagles I LIKE! Join Date: Jan 2005 Posts: 7,819	At least you have a descriptive thread title this time.
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06-06-2005, 06:58 PM	#3
wendybeth Nevermind Join Date: Jan 2005 Posts: 7,847	Brat. __________________
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06-06-2005, 07:59 PM	#4
Prudence Beelzeboobs, Esq. Join Date: Jan 2005 Location: Gavel - I haz it Posts: 6,287	Anyone know why it was filed in Delaware? Is Disney incorporated there? Do people live there? I'm too lazy to look it up. __________________ traguna macoities tracorum satis de
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06-06-2005, 08:27 PM	#5
wendybeth Nevermind Join Date: Jan 2005 Posts: 7,847	Quite a few companies are incorporated there, along with the WDC. They have an interesting court system as well: Delaware, incorporated __________________
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06-06-2005, 10:34 PM	#6
Prudence Beelzeboobs, Esq. Join Date: Jan 2005 Location: Gavel - I haz it Posts: 6,287	I was wondering if that was it. We read a lot of corporate cases out of DE in our civpro class and I was wondering if it was just coincidence (like the editors live there) or if there really was some wackiness with DE corporate law that made companies with primary places of business across the country incorporate in Deleware. __________________ traguna macoities tracorum satis de
	Submit to Quotes

06-06-2005, 10:53 PM	#7
wendybeth Nevermind Join Date: Jan 2005 Posts: 7,847	It's interesting that this same judge has yet to issue his verdict in the Ovitz trial. What the hell is taking him so long? __________________
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06-07-2005, 07:16 AM	#8
Name Title Join Date: Jan 2005 Location: here Posts: 779	There are numerous advantages to incorporating as a delaware corporation. I don't remember all of them, but most fall in tax rules, as well as other rules, delaware has some of the most corporation friendly rules out there. Just FYI, California has some of the least friendly rules. __________________ Signature
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