Disney Sued by Investor Claiming Company’s Fight with DeSantis over Florida’s Anti-Grooming Law Created ‘Far-Reaching Financial Risks’
A Disney investor has sued the company in an attempt to uncover internal records related to Disney’s fight with Florida Gov. Ron DeSantis (R) over the state’s anti-grooming Parental Rights in Education law. Investor Kenneth Simone sued Disney this week in a Delaware chancery court, claiming Disney “created far-reaching financial risks” for itself and its shareholders through its public attacks on the legislation.
In his 22-page complaint, Kenneth Simone laid out his demand for internal records from the Walt Disney Co. surrounding its response to the legislation that the left and its mainstream media allies dubbed the “Don’t Say Gay” bill.
“The financial repercussions from Disney’s actions, and resulting harm to the company and its stockholders, have been swift and severe,” he said in the suit, according to Bloomberg.
He argued Disney ignored warnings from Gov. DeSantis that opposing the law publicly could have severe consequences — including the “benefits of a one-of-a-kind deal that has existed between Disney and the state for more than half a century.”
Disney created “far-reaching” financial risks for itself by opposing a Florida law limiting instruction on sexual orientation or gender identity in elementary schools, according to one investor https://t.co/3rEm66eOyn
— Bloomberg (@business) December 12, 2022
As Breitbart News reported, Florida stripped Disney World of its self-governing privileges in the Orlando area following the dispute over the legislation.
Bloomberg noted that demands for corporate “books and records” are often granted in Delaware.
Earlier this year, then-Disney CEO Bob Chapek folded to a small group of employee activists who demanded he reverse his earlier decision to keep the company out of the debate over the Florida bill. In his groveling mea culpa, Chapek said he needed to be a “stronger ally” to the company’s gay and transgender employees. He inaccurately said the bill poses a “challenge to basic human rights.”
Florida’s Parental Rights in Education law forbids the teaching of sexuality and gender ideology — including radical transgender theory — to children in kindergarten through third grade.
Even after the bill passed into law, Chapek vowed to continue fighting to get it repealed.
Last month, Disney fired Chapek and brought back former CEO Bob Iger to take his place.
Shares of Disney are down more than 43 percent this year.
