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An affiliate of Walt Disney Co. shareholder Blackwells Capital on Thursday asked Delaware's Court of the Chancery to force Disney to open its books and records as the investor looks into potential wrongdoing and mismanagement stemming from the entertainment giant's dealings with ValueAct Capital.
Blackwells Capital launches lawsuit against Disney over information-sharing agreement
In the latest twist in the Disney proxy fight, Blackwells Capital filed suit suggesting possible disclosure violations in how it dealt with ValueAct Capital.
NEW YORK (Reuters) -Blackwells Capital upped the pressure on Walt Disney in a long-running boardroom battle by suing the entertainment giant on Thursday for information that may point to possible disclosure violations in dealings with hedge fund ValueAct Capital. The suit, filed in a Delaware court, is the latest chapter in a fight over who will sit on Disney's board and help guide the home of Mickey Mouse in business and personnel decisions. Blackwells and another hedge fund, Trian Fund Management, are trying to persuade investors to elect their director candidates while Disney is back...
Investors will soon learn whether Peltz has succeeded in his push to shake up Disney's board.