Disney faces shareholder pressure over Jimmy Kimmel’s suspension, with unions and advocacy groups demanding records on possible board misconduct. The dispute follows FCC threats and a brief share price drop before Kimmel’s reinstatement.
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Disney is under pressure from two shareholders and allied groups demanding answers about Jimmy Kibble's suspension, according to Variety.
00:08The American Federation of Teachers and Reporters Without Borders sent a letter to CEO Bob Iger on September 24th,
00:14poking shareholder rights under Delaware law to request internal records.
00:17The letter alleges Disney's board may have breached fiduciary duties by bowing to political pressure after SEC chairman Brennan Carr threatened news distortion complaints.
00:25Kibble's suspension on September 17th led to a 3.3% share drop before Disney reinstated him on Tuesday.
00:32Groups warned of a possible lawsuit if fiduciary obligations were violated and accused Disney of exposing shareholders to reputational and financial harm.
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