{"id":1774984,"date":"2022-12-14T06:06:09","date_gmt":"2022-12-14T11:06:09","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1774984"},"modified":"2022-12-14T11:33:25","modified_gmt":"2022-12-14T16:33:25","slug":"disney-investor-sues-company-alleges-their-criticism-of-florida-parental-rights-bill-created-financial-risk","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/disney-investor-sues-company-alleges-their-criticism-of-florida-parental-rights-bill-created-financial-risk\/","title":{"rendered":"Disney Investor Sues Company, Alleges Their Criticism of Florida Parental Rights Bill Created Financial Risk"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdisney-investor-sues-company-alleges-their-criticism-of-florida-parental-rights-bill-created-financial-risk%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1774984&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/assets.rebelmouse.io\/eyJ0eXAiOiJKV1QiLCJhbGciOiJIUzI1NiJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8zMjMzNjE0NC9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTcyNTkwNDk5OX0.saXFdM_hWCYUCZkcDODintUOHqz_9xsVduH0XDIgpDY\/img.jpg?width=1200&#038;height=600&#038;coordinates=99%2C105%2C12%2C122\" class=\"ff-og-image-inserted\" alt=\"image\"   style=\"display:none\"><\/div>\n<p>A <a href=\"https:\/\/nypost.com\/2022\/12\/13\/disney-investor-sues-over-companys-response-to-dont-say-gay-bill\/\" target=\"_blank\" rel=\"noopener\">Disney investor filed a lawsuit<\/a> against the media company, alleging that its response to Florida\u2019s Parental Rights in Education act fostered a \u201cfar-reaching,\u201d \u201cswift and severe\u201d financial risk for the company and its stakeholders, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-12-12\/disney-investor-demands-files-over-opposition-to-florida-s-don-t-say-gay-law?leadSource=uverify%20wall\" target=\"_blank\" rel=\"noopener\">Bloomberg<\/a> reported. The complaint, which was filed in Delaware Chancery Court, was unsealed on Friday.<\/p>\n<p>The <a href=\"https:\/\/flgov.com\/2022\/03\/28\/governor-ron-desantis-signs-historic-bill-to-protect-parental-rights-in-education\/\" target=\"_blank\" rel=\"noopener\">Parental Rights in Education Act<\/a>, also misleadingly referred to by left-leaning critics as the \u201cDon\u2019t Say Gay\u201d bill, prohibits schools from teaching kindergarten through third-grade students about sexual orientation or gender identity. The act, which was signed into law by Florida Governor Ron DeSantis (R) in March, also forbids schools to restrict parents&#8217; access to information about their children\u2019s mental, emotional, or physical health. <\/p>\n<p>Disney investor Kenneth Simeone filed a 22-page lawsuit against Disney, demanding that the company deliver its internal records regarding its objections to the Florida bill.<\/p>\n<p>According to Simeone\u2019s lawsuit, Disney\u2019s criticism of the law created a significant financial risk to the company\u2019s shareholders. <\/p>\n<p>Despite DeSantis\u2019 warnings to Disney not to publicly denounce the Parental Rights in Education bill, then-CEO Bob Chapek caved under pressure from angry employees who wanted the company to take a stand against the legislation. Consequently, Chapek condemned the bill and promised the company would suspend all political donations.<\/p>\n<p>Shortly after the bill was signed into law, <a href=\"https:\/\/www.nbcnews.com\/business\/business-news\/desantis-denies-report-u-turn-disneys-reedy-creek-rcna59803\" rel=\"noopener noreferrer\" target=\"_blank\">DeSantis revoked Disney\u2019s special municipal district, <\/a>referred to as the Reedy Creek Improvement District, which had been in place since 1967. As a result, the media giant lost control over tax and infrastructure decisions on its Florida amusement park property, the suit claimed. <\/p>\n<p>\u201cThe financial repercussions from Disney\u2019s actions, and resulting harm to the company and its stockholders, have been swift and severe,\u201d Simeone alleged.<\/p>\n<p>Bloomberg reported that Simeone\u2019s lawsuit is a \u201cbooks and records\u201d action that requests documents that can be used to bring legal action against Disney directors responsible for speaking out against the law. The news outlet reported that Delaware judges often grant such requests.<\/p>\n<p>In November, Chapek was removed from his position and replaced by predecessor and longtime Disney CEO Bob Iger.<\/p>\n<p>Disney did reply to a request for comment, Bloomberg and the New York Post reported.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Disney investor filed a lawsuit against the media company, alleging that its response to Florida\u2019s Parental Rights in Education act fostered a \u201cfar-reaching,\u201d \u201cswift and severe\u201d financial risk for<\/p>\n","protected":false},"author":1,"featured_media":1774987,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[6872,5458,5425,5455,7375,6344,4263,5113,7856,8818,3819,5579,7514,5178],"class_list":["post-1774984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-alleges","tag-bongino","tag-company","tag-created","tag-criticism","tag-disney","tag-financial","tag-florida","tag-investor","tag-parental","tag-report","tag-rights","tag-risk","tag-sues"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1774984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1774984"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1774984\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1774987"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1774984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1774984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1774984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}