The Delaware Supreme Court granted shareholders in the Mickey Mouse empire another gnaw at the apple when it partly overturned a Court of Chancery opinion dismissing suits filed over former Disney President Michael Ovitz’s $140 million severance package.
The high court reversed Chancellor William B. Chandler III’s dismissal of shareholder derivative lawsuits that were filed to recover severance payments made to Ovitz after he left the House the Mouse built in 1996.
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