At the end of March 2024, a major part of the ongoing battle between Disney and Florida Governor Ron DeSantis came to an end.
Although we are still waiting for a ruling on an appeal that Disney filed at the federal level, the state-level case reached a settlement. As a refresher, this state court case (2023-CA-011818-O: CENTRAL FLORIDA TOURISM OVERSIGHT DISTRICT vs. WALT DISNEY PARKS AND RESORTS US INC) was brought by the district against Disney. It claimed that certain agreements Disney entered into with the old board were null and void. Disney later filed a countersuit against the CFTOD board, claiming that they willfully failed to search for and produce documents pertinent to the case. A settlement was reached in March that includes the dismissal of the documents case as well. Now, we’re hearing from Disney on the matter once again, but this time at the annual shareholders meeting.