{"id":2212127,"date":"2024-04-03T11:21:02","date_gmt":"2024-04-03T15:21:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/claims-of-disney-winning-proxy-fight-against-pro-trump-investor-get-slammed-as-dirty-tricks\/"},"modified":"2024-04-03T11:21:34","modified_gmt":"2024-04-03T15:21:34","slug":"claims-of-disney-winning-proxy-fight-against-pro-trump-investor-get-slammed-as-dirty-tricks","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/claims-of-disney-winning-proxy-fight-against-pro-trump-investor-get-slammed-as-dirty-tricks\/","title":{"rendered":"Disney&#8217;s purported victory in proxy fight against pro-Trump investor criticized as underhanded tactics"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/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%2Fclaims-of-disney-winning-proxy-fight-against-pro-trump-investor-get-slammed-as-dirty-tricks%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=2212127&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--><p>Reports \u200bindicate Disney&#8217;s successful\u200c defense against a proxy challenge \u200cby investor Nelson Peltz, \u200ba Trump supporter.\u200c It&#8217;s suggested that Disney leaked this news to sway voters in favor of\u2064 the current board. Peltz had nominated himself\u200c and Jay\u2064 Rasulo to join Disney&#8217;s board. The leak faced criticism,\u2062 with concerns\u200c raised about the legality and ethics of such actions. The reports \u2062suggest that Disney effectively defended against a proxy challenge from investor Nelson Peltz, \u200bknown for his support of Trump. \u2062There are claims that Disney strategically leaked the information to influence voters in favor of \u2063the existing board. Peltz had put forth himself and Jay Rasulo as\u2063 nominees for \u200cDisney&#8217;s board.\u200d The leak has sparked criticism regarding its legality and \u2062ethical implications.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p style=\"font-weight: 400\">Reports have claimed that the attempt by Disney to fend off a proxy move by conservative investor Nelson Peltz, a Trump supporter, may be successful, although critics have responded that the leak of such news may have been an effort by Disney to tip undecided institutions and shareholders to vote for the incumbent board.<\/p>\n<p style=\"font-weight: 400\">Reuters <a href=\"https:\/\/www.reuters.com\/business\/media-telecom\/disney-prevails-over-trian-board-fight-sources-say-2024-04-03\/?taid=660cc64bd56cce000159377d&#038;utm_campaign=trueAnthem:+Trending+Content&#038;utm_medium=trueAnthem&#038;utm_source=twitter\" target=\"_blank\" rel=\"noopener\">reported<\/a> on Tuesday night that, according to \u201dsources,\u201d Disney\u2019s board of directors were \u201csafely ahead\u201d of Trian Fund Management\u2019s two challengers, Nelson Peltz and former Disney CFO Jay Rasulo, and that \u201cBlackwells Capital, another hedge fund that nominated three board director candidates at Disney, was also unsuccessful in its attempt.\u201d Peltz had nominated himself and Rasulo to join Disney\u2019s board of directors.<\/p>\n<p style=\"font-weight: 400\">\u201cTrian may still be able to claim a financial win at Disney, given that the company\u2019s shares have gained nearly 50% since early October when Peltz said he was planning a fresh push for seats,\u201d Reuters added.<\/p>\n<p style=\"font-weight: 400\">In late March, Peltz \u2014 who first mounted a proxy fight with Disney in 2023, only to call it off when Disney CEO Bob Iger cut costs \u2014 spoke about Disney to the <a href=\"https:\/\/www.ft.com\/content\/0a182c97-6af7-42a6-ad9f-ae980562bb45\" target=\"_blank\" rel=\"noopener\">Financial Times<\/a>, intimating that the company was too woke.<\/p>\n<p style=\"font-weight: 400\">\u201cThey say we know nothing about the movie business \u2014 we don\u2019t claim we do \u2014 but I don\u2019t think they do, with five big losers in a row,\u201d Pelz said, referencing recent Disney box office flops. \u201cThey\u2019ve lost first place in animation, they\u2019ve lost first place in features\u2009.\u2009.\u2009.\u2009Maybe it\u2019s time to change management in those divisions. \u2026 People go to watch a movie to be entertained. They don\u2019t go to get a message. \u2026 Why do I have to have a Marvel that\u2019s all women? Not that I have anything against women, but why do I have to do that? Why can\u2019t I have Marvels that are both? Why do I need an all-black cast<em>?\u201d<\/em><\/p>\n<p style=\"font-weight: 400\">The leak about the Disney vote has been met with some heavy criticism and skepticism, including from billionaire investor Bill Ackman, who slammed the reports on X:<\/p>\n<blockquote>\n<p style=\"font-weight: 400\"><em>There have been a few recent articles in the press about @Disney \u201cwinning\u201d its proxy contest with Nelson Peltz based on early election returns that have been leaked to the media. We don\u2019t have an investment in Disney, but I thought it useful to point out the inappropriateness of these leaks to the press. Only the company and its advisors have access to how shareholders have voted before the day of the annual meeting. My understanding is that it is illegal to release the outcome of the vote prior to it being finalized as it has the effect of manipulating the outcome. <\/em><\/p>\n<p style=\"font-weight: 400\"><em>Here, the company and\/or its advisors have leaked that Disney is winning the contest. It is really inappropriate that they have done so. And how does one know that it is Disney and\/or its advisors that are the source of the leak?\u00a0 If Peltz were \u201cwinning,\u201d there would be no leaks to the press.\u00a0 The reason why the progress of an election for directors must be kept confidential until the results are final is that leaking the results can affect the ultimate outcome.   <\/em><\/p>\n<\/blockquote>\n<p style=\"font-weight: 400\">Ackman continued:<\/p>\n<blockquote>\n<p style=\"font-weight: 400\"><em>This is clearly a close election. Institutions don\u2019t want to risk voting against the incumbent board if it is clear that the activist will lose. They want to be on the winning side of the election. Here, the company and\/or its advisors have leaked the early results in order to tip more institutions and other shareholders to vote for the incumbent board, unfairly tipping the scale in the incumbent board\u2019s favor. In other words, an institution may think: if Peltz is going to lose, it is not worth taking the risk of offending management by voting for him. \u2026<\/em><\/p>\n<p style=\"font-weight: 400\"><em>I think highly of Nelson Peltz. I am sure he would be greatly additive as a member of the Disney board.\u00a0 Ask yourself, why is the company fighting so hard to keep him off? The fact that the company leaked the early returns to the media is further evidence that an activist of Nelson\u2019s caliber deserves to be on this board for all shareholders benefit. Based on my knowledge of Nelson\u2019s capabilities and the dirty tricks implemented by the company and its advisors, I strongly recommend that shareholders vote for Nelson Peltz for the Disney board.\u00a0 Institutions who have already voted still have time to change their vote.\u00a0 It is time that we make an example of Disney here so that this bad practice does not continue to poison shareholder democracy.<\/em><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">There have been a few recent articles in the press about <a href=\"https:\/\/twitter.com\/Disney?ref_src=twsrc%5Etfw\">@Disney<\/a> &#8216;winning&#8217; its proxy contest with Nelson Peltz based on early election returns that have been leaked to the media.  We don&#8217;t have an investment in Disney, but I thought it useful to point out the inappropriateness of\u2026<\/p>\n<p>\u2014 Bill Ackman (@BillAckman) <a href=\"https:\/\/twitter.com\/BillAckman\/status\/1775285586078707789?ref_src=twsrc%5Etfw\">April 2, 2024<\/a><\/p>\n<\/blockquote>\n<\/p>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to reports, Disney&#8217;s pushback against a proxy challenge from Trump-backer Nelson Peltz might succeed. Critics suggest Disney strategically leaked this information to sway undecided voters in favor of the current board. (55 words)<\/p>\n","protected":false},"author":60,"featured_media":2212128,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/04\/GettyImages-1249989380.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-2212127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/04\/GettyImages-1249989380.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2212127","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\/60"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2212127"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2212127\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2212128"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2212127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2212127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2212127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}