Disney Investor Sues Company after Unrelenting Attacks against Florida's Parental Rights Law

Tré Goins-Phillips : Dec 15, 2022
Faithwire.com

"According to Bloomberg News, the lawsuit is a so-called 'books and records' action, demanding documents that can be used to later sue Disney directors over the decision to oppose the Florida law." -NY Post

[Faithwire.com] One investor in The Walt Disney Company is going after the House of Mouse after the entertainment behemoth unrelentingly condemned Florida's parental rights law. (Image: Pixabay)

In a 22-page lawsuit filed Friday, Kenneth Simeone demanded Disney turn over its internal records about its opposition to a law many on the left and in the media mischaracterized as the "Don't Say Gay bill." In the filing, Simeone said the harm caused by Disney's actions has been "swift and severe."

"The financial repercussions from Disney's actions, and resulting harm to the company and its stockholders, have been swift and severe," he claimed in a court filing, according to the New York Post.

The law in question, it should be noted, prohibits public school educators from teaching children in pre-K through third-grade classrooms about gender identity and sexual orientation.

As a result of the criticism of the law—led by now-former Disney CEO Bob Chapek—the company lost its special tax privileges. As CBN's Faithwire reported, beginning in June of 2023, Disney self-governing status, its Reedy Creek Improvement District, will dissolve.

Not only will Disney lose many tax benefits, the company will also lose a great deal of its autonomy in addressing its own problems as well as making improvements to the Orlando-based parks internally.

When the RCID agreement lapses, Disney could be weighed down by billions of dollars of debt.

The board of The Walt Disney Company ousted Chapek in late November, reinstating his predecessor, Bob Iger, as the company's chief executive.

Iger, for his part, said he regrets Disney was "dragged" into a political battle with Florida lawmakers... Subscribe for free to Breaking Christian News here

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