Case Page

 

Case Status:    DISMISSED    
On or around 11/06/2003 (Other)

Filing Date: August 15, 2002

According to the docket posted on this site, the court issued a Stipulation and Order dated November 05, 2003. The parties agreed to dismiss this matter with prejudice, with each side to bear its own costs and fees. The case is closed.

On September 12, 2003, the court issued an Order granting Defendants' motion to dismiss Consolidated Amended Class Action Complaint and giving the Plaintiffs until October 08, 2003 to file a second amended complaint.

The complaint asserts claims for violation of Section 10(b) of the Securities and Exchange Act of 1934 and Rule 10b-5 promulgated thereunder against the Walt Disney Company and certain senior executives, and asserts claims for violation of Section 20(a) against certain management executives.

Specifically, the complaint alleges that Disney failed to disclose a lawsuit (hereinafter referred to as the 'Pooh Litigation') involving hundreds of millions of dollars in potential royalty payments and the potential loss of $2 - $6 billion in future licensing revenue relating to a beloved character in a well-known children's book, Winnie the Pooh (or 'Pooh'). At risk is the Company's merchandising agreement for Pooh character products which could be terminated as early as February 2003. Throughout the Class Period, Disney's SEC filings omitted all disclosure of the Pooh Litigation. On May 15, 2002, defendants finally revealed the number of claims involved and the possible results of the Pooh litigation. Disney's stock price fell on this news, decreasing 28% in the following two months.

COMPANY INFORMATION:

Sector: Services
Industry: Broadcasting & Cable TV
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: DIS
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: C.D. California
DOCKET #: 02-CV-06394
JUDGE: Hon. Gary A. Feess
DATE FILED: 08/15/2002
CLASS PERIOD START: 08/15/1997
CLASS PERIOD END: 05/15/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Binkow & GoldBerg LLP
    1925 Century Park East, Suite 2100, Glancy Binkow & GoldBerg LLP, CA 90067
    310-201-9150 · info@glancylaw.com
  2. Johnson & Perkinson
    1690 Williston Road, Johnson & Perkinson, VT 05403
    802.862.0030 802.862.0060 · JPLAW@adelphia.net
  3. Kirby McInerney & Squire LLP
    830 Third Avenue 10th Floor, Kirby McInerney & Squire LLP, NY 10022
    212.317.2300 ·
  4. Wolf Haldenstein Adler Freeman & Herz LLP (New York)
    270 Madison Avenue, Wolf Haldenstein Adler Freeman & Herz LLP (New York), NY 10016
    212.545.4600 212.686.0114 · newyork@whafh.com
No Document Title Filing Date
COURT: C.D. California
DOCKET #: 02-CV-6394
JUDGE: Hon. Gary A. Feess
DATE FILED: 04/07/2003
CLASS PERIOD START: 08/15/1997
CLASS PERIOD END: 05/15/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Binkow & GoldBerg LLP
    1925 Century Park East, Suite 2100, Glancy Binkow & GoldBerg LLP, CA 90067
    310-201-9150 · info@glancylaw.com
  2. Kirby McInerney & Squire LLP
    830 Third Avenue 10th Floor, Kirby McInerney & Squire LLP, NY 10022
    212.317.2300 ·
  3. Stull, Stull & Brody (Los Angeles)
    10940 Wilshire Boulevard - Suite 2300, Stull, Stull & Brody (Los Angeles), CA 90024
    310.209.2468 ·
  4. Wolf Haldenstein Adler Freeman & Herz LLP (New York)
    270 Madison Avenue, Wolf Haldenstein Adler Freeman & Herz LLP (New York), NY 10016
    212.545.4600 212.686.0114 · newyork@whafh.com
No Document Title Filing Date
No Document Title Filing Date