A Delaware court Monday allowed a lawsuit filed by the ex-directors to go forward, rejecting a motion by the media giant to have the complaint dismissed. The suit aims to void Disney's board election
The lawsuit, filed in early May, alleges that the board made false statements to shareholders about its CEO search to secure votes for the incumbent board at the company's annual meeting. The lawsuit says the board took the action to prevent Disney and Gold from offering an alternate slate of directors at the meeting. The pair is also suing CEO-elect Robert Iger, departing chief Michael Eisner and other board members for fraud and breach of disclosure in the matter.
In a statement on savedisney.com, the pair said they were pleased with the ruling, which sets an expedited trial date in August.