Prof. Ribstein posts about his prediction of the result expected soon from the Delaware Supreme Court in the appeal of the Chancery Court’s decision in the Disney case, involving the $140 million payment to Michael Ovitz of a severance package after one year of less than stellar performance. In light of Ribstein’s prior prediction of the Chancery Court opinion, (see my post linking to his prior prediction: ), his current post is worth reading by anyone interested in what will undoubtedly become (regardless of the result) an oft-quoted decision by the Delaware Supreme Court in the area of fiduciary duty; executive compensation; limitations on the powers of a CEO, and related topics. A search on this blog using the word Disney will uncover many related posts. Here is the link to Larry’s insights into what he expects the Delaware Supreme Court to do in this case:
Ideoblog: Is Disney about to be reversed?
UPDATE: Prof. Bainbridge has a responsive post at this link:
UPDATE II: Prof. Ribstein replies to the response by Prof. B. here: