Shareholders Foundation, Inc.

Notice to Participants in the Walt Disney Co (NYSE:DIS) Savings and Investment Plan: Investigation over Potential Wrongdoing

An investigation on behalf of former employees of Walt Disney Co (NYSE:DIS) who are current or former participants in the Walt Disney Co Savings and Investment Plan, concerning potential breaches of fiduciary duties was announced and those employees of Walt Disney Co should contact the Shareholders Foundation.

 

San Diego, CA -- (SBWIRE) -- 04/19/2016 -- An investigation on behalf of current or former employees of Walt Disney Co (NYSE:DIS), who are current or former participants in the Walt Disney Co Savings and Investment Plan and held the Sequoia Fund, concerning potential Breaches of Fiduciary Duty was announced.

Those who are existing or former Walt Disney Co employees, who purchased and held the Sequoia Fund, through the Walt Disney Co Savings and Investment Plan, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

According to the investigation by a law firm under the federal Employee Retirement Income Security Act ("ERISA") employees of the Walt Disney Co (NYSE:DIS), who are current or former participants in the Walt Disney Co Savings and Investment Plan and held the Sequoia Fund,, may be eligible to file a ERISA complaint for putting stock options at risk if they can prove that the plan violated its fiduciary duty to them by the continued offering of the Sequoia Fund as an investment option for Disney's employees under the Plan.

In January 2016, a shareholder lawsuit was filed against the Sequoia Fund's investment managers and its board of directors. The complaint alleges that, in March 2015 and afterwards, the Sequoia Fund's investment strategy outlined in its prospectus was violated by its large stake in Valeant Pharmaceuticals. The complaint alleges that the Sequoia Fund's 25% limit on concentration in any one position was violated by its approximately 35% investment in Valeant. The plaintiff further alleges that the Sequoia Fund's managers violated its "sell strategy" by failing to sell Valeant when its valuation became "excessive in relation to its expected earnings," and that Valeant's $236 per share price was 100 times its 2014 earnings.

Those who are former employees of Walt Disney Co (NYSE:DIS) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com