Walt Disney Co. shareholders who sought to hold the company's board responsible for approving a $130-million payday for former President Michael Ovitz have appealed a Delaware court's decision that affirmed the severance package and shielded directors from liability.
In the appeal, filed Monday in Delaware, attorneys for the shareholders claim that a ruling by Delaware Chancery Court Judge William Chandler III was flawed on procedural and evidentiary grounds and should be overturned.
