The co-founder and former chief executive of Maker Studios, Danny Zappin, filed a lawsuit aimed at preventing a shareholder vote on a takeover offer from Walt Disney Co, the Wall Street Journal reported on Thursday. Zappin and three other former Maker executives asked a California court to issue a temporary restraining order to delay an April 15 vote by Maker shareholders, the Journal said.Disney agreed in March to purchase Maker Studios, one of YouTube's largest networks, for $500 million.A Disney spokeswoman had no comment.
The Walt Disney Company, together with its subsidiaries, is a diversified worldwide entertainment company. Shares of DIS fell by 3.68% or $-2.96/share to $77.51. In the past year, the shares have traded as low as $58.84 and as high as $83.65. On average, 7451960 shares of DIS exchange hands on a given day and today's volume is recorded at 10159804.
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