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The Walt Disney Company should have fired Michael S. Ovitz because of his "substantial and repeated dishonesty," a legal specialist testified yesterday in support of the shareholders who are suing Disney's directors over Mr. Ovitz's $140 million severance package.
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On average, 40percentt of shareholders voted in support of these shareholders' proposals when they went to a vote, hardly indicative of frivolous or fringe proposals.
On January 25 , 2007 at a special meeting, 77% of the shareholders voted in support of the acquisition.
Speaking in support of the board were representatives from large institutional shareholders Standard Life and Sanderson.
Analysts and shareholders are overwhelmingly in support of the split because it delivers a standalone 21st Century Fox, home to The Simpsons, Avatar and the X-Men film franchise.
But after U.S. investors intervened in support of local shareholders, the Irish government told the stock exchange in March either to introduce new disclosure rules voluntarily or prepare for tough legislation that would do the job.
Deutsche Börse's shareholders have about a week to tender their shares in support of the merger.
Shareholder activists and proxy advisory firms had campaigned in support of the measure.
At the pubs group Mitchell & Butlers – a not dissimilar situation, where billionaire Joe Lewis and his associates own a 42% stake and seem intent on running the business – the Association of British Insurers has complained loudly in support of other shareholders.
On May 18th several American newspapers carried ads paid for by Corporate Accountability International (a group that helped to kill cigarette-touting Joe Camel) in support of a shareholder resolution at the annual meeting of McDonald's the following day urging the fast-food chain to stop marketing burgers to children.
While relatively few notices of exempt solicitations have been filed by individual retail investors in support of their shareholder proposals, this practice may expand during the 2019 proxy season to the extent proposal proponents find these notices to be a relatively simple and cost-effective way to promote their views.
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