In Re the Walt Disney Co. Derivative Litigation

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that allegation that company paid a director $50,000 in consulting fees was not enough to demonstrate that the director lacked independence, as plaintiffs had failed to allege that $50,000 was material to the director
• concluding two directors may be interested because their salaries set by the board exceeded their personal shareholdings
• finding that receipt of $50,000 in consulting fees did not raise a reasonable doubt as to a director who was a nationally known legal and political figure
• explaining that to find otherwise would “discourage the membership on corporate boards of people of less- than extraordinary means” because “[s]uch ‘regular folks’ would face allegations of being dominated by other board members”
• taking no issue with the independence of a school principal serving on the board of the Walt Disney Company
• where consulting fees were not shown to be material to independent director based on his actual circumstances, plaintiffs attack on the director’s independence failed

Source: CourtListener parenthetical corpus (CC0).