News just out - suit filed by Disney and Gold re:election of directors and disclosure

[scaeagles]

Originally Posted by Ghoulish Delight

First he doesn't even bother to present a CEO candidate before the deadline, then he sues them for not doing a good fait search?

I'm not sure how all this corporate stuff works - was it his responsibility to present a CEO candidate?

Here's what I think - I think Disney and Gold realized the fix was in and that they could do nothing to stop Iger from becoming CEO. This being the case, they specifically opted NOT to offer up any candidates so that a suit could be filed. If they offer up a candidate or two, and those candidates are considered and rejected, an air of sour grapes comes in to the mix. Right now they have an argument - though perhaps a weak one - that no candidate other than Iger was considered.

They saw the writing on the wall - nothing they could do could stop Iger from getting the job. So they planned a suit long ago to try to combat it on the only grounds they could.