Today’s Research Reports on Stocks to Watch: Facebook and The Walt Disney
NEW YORK, NY / ACCESSWIRE / October 25, 2018 / Facebook shares were in the red as the company agreed to pay $67.6 million in legal fees in a suit over shares. The Walt Disney Company also saw losses of over 5% after it was announced that the president of Walt Disney and Pixar Animation Studios is retiring.
RDI Initiates Coverage on:
Facebook, Inc.
https://www.rdinvesting.com/report/?ticker=FB
The Walt Disney Company
https://www.rdinvesting.com/report/?ticker=DIS
Facebook, Inc. shares closed down 5.41% yesterday on nearly 25 million shares traded. The social media giant has agreed to pay $67.5 million in legal fees so that its CEO Mark Zuckerberg won’t have to explain in court why he dropped a plan to create non-voting shares to further his charitable efforts. Lawyers had initially wanted $129 million in fees but agreed to half of that to resolve the case said a Delaware Chancery Court filing. The filing also shows that the settlement can be paid by the company's insurers. Zuckerberg was expected to testify in Delaware next month about his reasons for dropping the plan. The lawsuit said that Zuckerberg, during a meeting with a special board committee considering the proposal, got real-time texts from director Marc Andreessen in which he wrote, "This line of argument is not helping." He also wrote, "The committee wants to do this. You don’t need to question that.’’ The suit said that these kind of actions from neutral directors made the committee's evaluation of the proposal “a charade that was designed to appease’’ the company's CEO.
Access RDI’s Facebook, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=FB
The Walt Disney Company shares closed down 5.29% on about 11.6 million shares traded on Wednesday. There was no particular significant news aside from the company announcing that Ed Catmull, the president of Walt Disney and Pixar Animation Studios since 2006, is retiring in 2019. He will remain on with the company in an advisory role through July. Catmull cofounded Pixar with help from the late Steve Jobs. He stated, "I have the mixed emotions that come with stepping away from a group of people I love, but also with the utmost pride and pleasure that we now have at both Pixar and Disney Animation the most dedicated and imaginative leaders I have worked with." Disney said it would not replace Catmull with a new president overseeing its two main animation studios, Pixar and Walt Disney.
Access RDI’s The Walt Disney Company Research Report at:
https://www.rdinvesting.com/report/?ticker=DIS
Our Actionable Research on Facebook, Inc. (NASDAQ: FB) and The Walt Disney Company (NYSE: DIS) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
