![]() In March 1984 the Steinberg Group purchased more than two million shares of Disney stock. The trial court could reasonably conclude from the evidence a preliminary injunction was necessary to prevent the dissipation or disappearance of the profit during the pendency of the action and the balance of hardships involved in granting or denying the injunction incline in plaintiffs' favor. Plaintiffs have established a reasonable probability of proving breach of fiduciary duties by the Steinberg Group. ![]() ![]() We affirm.Īs will be discussed more fully below, if plaintiffs prove the Steinberg Group breached a fiduciary duty to the corporation and its shareholders in the sale of stock to the corporation the plaintiffs would be entitled to a constructive trust upon the profits of that sale. The Steinberg Group appeals from this preliminary injunction. Plaintiffs obtained a preliminary injunction which, in effect, imposes a trust on the profit from the Disney-Steinberg transaction, approximately $60 million, and requires the Steinberg Group to render periodic accountings of the disposition of the entire proceeds. Defendants are the Disney directors who paid the greenmail and the "Steinberg Group" 2 to whom the money, approximately $325 million, was paid. Plaintiffs, stockholders in Walt Disney Productions, are suing to recover the payoff in the greenmailing 1 of Disney.
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