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Securities

Feb. 24, 2025

Trading case against Disney ex-executives can proceed

Disney must face a lawsuit alleging it misled investors about Disney+ growth, though a claim against CEO Bob Iger was dropped with a chance to amend.

Disney must face a securities fraud action that alleges the company sold over $375 million of its stock and misled investors with false statements about Disney+ subscriber growth predictions when the platform launched, a judge ruled.

In a case that goes after Disney's former CEO, CFO and media executive, U.S. District Judge Consuelo B. Marshall found the putative class of investors sufficiently pled a theory that could show how the company's former leaders "engaged in...

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