Milberg Weiss Announces Appeal of Decision on Michael Ovitz's Severance Payout From Disney

Milberg Weiss Announces Appeal of Decision on Michael Ovitz's Severance Payout From Disney

NEW YORK, Sept. 7 /PRNewswire/ -- Milberg Weiss announces that it has filed an appeal of the Court of Chancery's decision in the In re Walt Disney Company Derivative Litigation which rejected plaintiffs' claims after trial. The Delaware Supreme Court will now be called upon to review the Court of Chancery's opinion which concluded that Michael Eisner, and the remaining Disney Board of Directors, including Michael Ovitz, breached no fiduciary duties in connection with Michael Ovitz's receipt of a $130 million severance payout. Plaintiffs will be filing their papers in support of their appeal in accordance with a schedule to be set by the Court.

Milberg Weiss Bershad & Schulman LLP (http://www.milbergweiss.com/), a 125- lawyer firm with offices in New York, Wilmington, Los Angeles, Boca Raton and Washington, D.C., is active in major litigations pending in federal and state courts throughout the United States.

Source: Milberg Weiss

CONTACT: Brigitte S. Rudman, +1-212-631-8680, brudman@milbergweiss.com

Web site: http://www.milbergweiss.com/

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