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Author Archives: joan warner

Boards: Still Not Off the Hook

The collective sigh of relief from Walt Disney directors was audible from Tinseltown to Teaneck. Ruling on a shareholder suit that had dragged on for years, Delaware Chancellor William Chandler on August 9 determined that the Disney board did not neglect its duties when it awarded departing President Michael Ovitz a severance package worth $140 million in 1996. Ovitz had ...

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