Disney Hit With Legal Salvo From Shareholders Over Jimmy Kimmel Suspension

[Bernardo de La Paz]

16. I read what you wrote. The suit is seeking transparency about the capitulation. There is no case over stock value

The price volatility you wrote and that I read is very normal, entirely consistent with common movements in stock prices, to the degrees that you wrote and that I read and that I quoted. The three periods involved that you wrote and that I read and that I quoted are ordinary for price movements such as those written, read, and quoted.

In April there was a big two day drop in the stock market. That was unusual, uncommon, not ordinary.

DIS made a three year (or more) peak at $124 in early July. Then it began a decline. In other words, the decline began long before Kimmel, which your own data made the point. It is now $113, down $11 or less than ten percent.

On two days August 6 and 7, it declined from $118 to $113. That is a bigger faster swing than is being complained about now. Further, the stock has not lost value since August 7.

If every 2 % swing was litigated, then all of the thousands of stocks would face many dozens of lawsuits every year. Thankfully that does not happen.

The plaintiffs do not have a case. The volatility is not unusual, the dollar amount is small relative to things. They might get discovery, but they will not get monetary compensation because none is due, absent some non-hyperbolic non-bombastic bombshell which is highly unlikely.