New Twist In Disney Vs DeSantis: Mouse House Now Wants To Scale Down Federal Lawsuit Against Florida Governor
Portfolio Pulse from Shanthi Rexaline
Walt Disney Co. (NYSE:DIS) is seeking to narrow the scope of a lawsuit it initiated against Florida Governor Ron DeSantis. The amendment seeks to remove the part related to the development contracts worth about $17 billion the company previously committed over the next decade. However, Disney's core accusation that DeSantis and the state violated its First Amendment rights was retained. The standoff between Disney and DeSantis started over a year back when Disney opposed the Florida state's “don't say gay” law.

September 04, 2023 | 9:47 am
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NEGATIVE IMPACT
Disney's ongoing legal battle with Florida Governor DeSantis and the recent move to narrow the scope of its lawsuit could potentially impact the company's future operations and investments in Florida. The company's stock price has been weighed down by these fundamental challenges.
The ongoing legal battle between Disney and Florida Governor DeSantis has created uncertainty around Disney's future operations and investments in Florida. This uncertainty, coupled with the potential financial implications of the lawsuit, could negatively impact Disney's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100