Blackwells sues Disney in Delaware over disclosure in relationship with ValueAct

By Thomson Reuters Mar 28, 2024 | 2:24 PM

NEW YORK (Reuters) – Blackwells Capital is ratcheting up the pressure on Walt Disney in a bruising boardroom battle by suing the entertainment giant in Delaware court for information that may point to possible disclosure violations in dealings with hedge fund ValueAct Capital.

The suit is the latest chapter in a fight over who will sit on Disney’s board and help guide the home of Mickey Mouse in business and personnel decisions. Blackwells and another hedge fund, Trian Fund Management, are trying to persuade investors to elect their director candidates while Disney is backing its own directors.

(Reporting by Svea Herbst-Bayliss)