Disney's $9.5M Gesture: Magic Key Holders In Class-action Lawsuit To Receive Compensation
Portfolio Pulse from Bibhu Pattnaik
Walt Disney Co (NYSE:DIS) has proposed a $9.5 million settlement for a class-action lawsuit led by Jenale Nielsen, who purchased a Dream Key pass for Disneyland Resort in Anaheim, Calif. Nielsen discovered that despite the park's promise of no blackout dates, many days in November 2021 were unavailable. The settlement, which is pending preliminary judicial approval, would provide individual compensations of $67.41 to over 100,000 members of the class-action suit.
September 10, 2023 | 8:16 pm
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NEGATIVE IMPACT
Disney's proposed $9.5 million settlement for a class-action lawsuit could potentially impact its financials in the short term. However, the amount is relatively small compared to Disney's overall financial capacity.
The proposed settlement of $9.5 million, if approved, will be a direct cost to Disney. However, given the size of Disney's operations, this amount is relatively small and unlikely to have a significant impact on the company's overall financial health. The negative score is due to the potential reputational damage and the possibility of similar lawsuits in the future.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100