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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Walt Disney Co | NYSE:DIS | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -1.15 | -1.03% | 110.93 | 112.04 | 110.80 | 111.92 | 8,156,577 | 01:00:00 |
From May 2019 to May 2024
Maker Studios co-founder and former chief executive Danny Zappin and three other former executives have filed a lawsuit aiming to prevent a shareholder vote to approve a takeover bid by Walt Disney Co.
Mr. Zappin and three other former executives, Scott Katz, Derek Jones and Will Watkins, filed an application in a California superior court seeking a temporary restraining order to delay the April 15 vote.
The group claims documents that Maker sent to shareholders to vote on the merger agreement with Disney failed to include a reference to a pending lawsuit that alleged some Maker directors issued shares to themselves to dilute Mr. Zappin's ownership and reduce his ability to control the company.
Mr. Zappin stepped down last May as CEO and filed a lawsuit a month later against the online video producer.
Representatives from Disney and Maker weren't immediately available to comment on the latest litigation.
Disney agreed in March to acquire Maker for $500 million in cash, a deal that would give Disney a strong foothold in the burgeoning but financially uncertain market for channels on Google Inc.'s YouTube. The deal would be worth an additional $450 million if Maker meets certain performance targets.
Write to John Kell at john.kell@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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