Roy Disney Sues Disney

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Still unhappy at Bob Igers’ appointment as successor to Michael Eisner at Disney, dissident shareholders Roy E. Disney and Stanley Gold have launched a lawsuit against the company and some board members. Disney and Gold contend the company misled shareholders about the CEO search, trying to calm critics by suggesting someone other than Eisner’s handpicked heir—Iger—might get the assignment. They’re asking the chancery court in Delaware to void the 2005 election of current directors and order a new election after “full and fair disclosure of all material facts about the CEO-selection process.” Defendants include Iger, Eisner, Board Chairman George Mitchell and five other board members—Judith Estrin, John Chen, Aylwin Lewis, Monica Lozano and Leo Donovan.

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