Darkbeer
12-17-2002, 07:33 PM
Disney board reviewing CEO buying IPO shares (http://www.forbes.com/markets/newswire/2002/12/17/rtr826616.html) - Reuters, 12/17/02
QuikQuote: Walt Disney Co. said on Tuesday its board was reviewing Chief Executive Michael Eisner's participation in a 1999 initial public offering following a shareholder complaint, the latest allegation that a corporate chief unfairly profited from his position.
The Disney complaint was similar to the Ford case, the source told Reuters. Both shareholders allege that the chief executives unfairly profited because the companies they headed were Goldman Sachs clients. Both complaints were also in the form of requests to the board, not lawsuits.
QuikQuote: Walt Disney Co. said on Tuesday its board was reviewing Chief Executive Michael Eisner's participation in a 1999 initial public offering following a shareholder complaint, the latest allegation that a corporate chief unfairly profited from his position.
The Disney complaint was similar to the Ford case, the source told Reuters. Both shareholders allege that the chief executives unfairly profited because the companies they headed were Goldman Sachs clients. Both complaints were also in the form of requests to the board, not lawsuits.