Disney Shifts Gears Yet Again In DeSantis Lawsuit: Mouse House Now Wants To Focus Only On First Amendment Rights
Portfolio Pulse from Shanthi Rexaline
Walt Disney Co. (NYSE:DIS) has amended its lawsuit against Florida Governor Ron DeSantis to focus solely on its First Amendment claim. The company has dropped the Contracts Clause, Takings Clause, and Due Process Clause violations from the lawsuit. The case pertains to the Parental Rights in Education Act, also known as the 'Don't Say Gay Law', and the abolition of the special taxing district privilege for the Reedy Creek district, which houses Disney's Orlando theme park. Disney's shares fell to a 10-year low on Thursday, dropping 0.51% to $80.57.
September 08, 2023 | 6:37 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Disney's lawsuit amendment and the ongoing legal battle could potentially impact investor sentiment. The company's shares have already hit a 10-year low.
The ongoing legal battle and the amendment of the lawsuit to focus solely on the First Amendment claim could potentially create uncertainty among investors. This, coupled with the company's shares hitting a 10-year low, could negatively impact the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100