The company's current CEO Bob Iger and past CEO Bob Chapek are among the names listed in the complaint.
, but the upshot of the August 23 filing by Stourbridge Investments alleges “defendants engaged in a fraudulent scheme designed to hide the extent of Disney+ losses and to make the growth trajectory of Disney+ subscribers appear sustainable and 2024 Disney+ targets appear achievable when they were not.
Stourbridge is asking Disney and the defendants named in the complaint, including Chapek and Iger, to “take all necessary actions to reform and improve its corporate governance and internal procedures to comply with applicable laws and to protect Disney and its shareholders from a repeat of the damaging events described herein.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Disney, Bob Iger, Bob Chapek Hit With Another Investors Suit Over “Fraudulent” Streaming CostsDisney has been hit again with another lawsuit from investors over the alleged sleight of hand accounting the company used to hide streaming losses. And once again, some big names, Bobs past and pr…
Read more »
Investors Sue Disney Over Alleged Chapek Era “Cost-Shifting Scheme” to Hide Streaming LossesThe suit takes aim at former CEO Bob Chapek's lofty subscriber growth and profitability targets for Disney+. The entertainment giant faces a host of litigation dealing with efforts to boost subscriptions for its streaming service.
Read more »
Oregon GOP senators sue to run for reelection following walkout that led to their disqualificationSeveral Republican senators, who became disqualified from reelection by accruing too many unexcused absences during a six-week legislative walkout, are now suing.
Read more »
Parents of teen who died on school-sponsored hiking trip sue in federal courtThe parents of a 17-year-old boy who died on a school-sponsored hiking and camping trip are suing the school district and two staff members.
Read more »
Abortion Petition Writers Sue Ohio Ballot Board for “Deceptive” SummaryThe group supporting a constitutional amendment on reproductive rights will take their arguments against a “deceptive” summary approved and written by the Ohio Ballot Board...
Read more »