On or around 06/18/2004 (Other)
Filing Date: February 20, 2004
On May 28, 2004, the Court entered the Order signed by U.S. District Judge Ronald S.W. Lew granting the motion to appoint Florence Appel and Carol Donegan as lead plaintiffs and for appointment of co-lead counsel. On June 14, 2004, the plaintiffs filed a notice of voluntary dismissal of the class action. The next day, the Court issued the Order dismissing the matter without prejudice. The Order was entered on June 18, 2004.
The Complaint charges defendants with violating the federal securities laws by failing to disclose that Comcast Corp.'s CEO had approached Disney with an offer to merge Disney and Comcast. The Complaint charges that each defendant violated Section 10(b) of the Securities Exchange Act of 1934 (the "Exchange Act") and SEC Rule 10b-5 by omitting to disclose the offer from Comcast and charges Disney's CEO with violating Section 20(a) of the Exchange Act. The complaint alleges that after the public learned about the Comcast merger proposal on February 11, 2004, the price of Disney's common stock increased significantly.
NOTE: The Class Action was filed on behalf of all sellers of Disney's securities during the Class Period.
Company & Securities Information
Defendant: Walt Disney Company
Industry: Broadcasting & Cable TV
Headquarters: United States
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.
First Identified Complaint
Florence Appel, et al. v. The Walt Disney Company, et al.