A Disney investor is suing the company’s officers for failing to do their fiduciary duty to protect stockholders by wading into controversial political issues. He’s demanding all the internal records relating to the decision to make a corporate stand against Florida’s parental rights bill (falsely labeled by the media as the “Don’t Say Gay” bill), which cost Disney dearly when the state revoked some of its longheld privileges.
This company that used to be the gold standard of clean family entertainment has let itself be taken over by radical leftist and LGBTQ+++ activists who openly boast of their “not-at-all secret gay agenda” to fill children’s programming with inappropriate content. They’ve made Disney the poster child for “Get woke, go broke.” Disney stock has tanked and their movies that were once like licenses to print money are turning into Hiroshima-level bombs. Their new animated film “Strange World” is loaded with every virtue signal from a gay teen romance to climate change lecturing, and it’s bombed so badly, it will be out of theaters and on Disney Plus before Christmas. Estimates are that it will result in a loss of $100 million and possibly much more.
All things considered, my question is, “Why isn’t this a class action lawsuit by ALL Disney stockholders?”