Blackwells Accuses Disney of Failing to Disclose ValueAct's Pension Fund Management Fees

The activist investor alleges Disney did not reveal that ValueAct Capital earned $95 million in fees from managing Disney's pension funds, raising questions about transparency and ethics.

Blackwells Capital claims Disney failed to disclose that ValueAct Capital managed over $350 million of its pension fund assets, earning $95 million in fees since 2013.
The accusation comes amid a proxy fight, with Blackwells nominating its own directors for Disney's board and questioning the board's transparency and ethics.
Disney defended its financial strategies, arguing that a proposed company break-up would harm its competitive advantages and emphasizing its commitment to technology and theme park innovations.
ValueAct's support for Disney's board, previously seen as independent, is now under scrutiny due to the undisclosed financial relationship.
Disney's annual shareholder meeting is scheduled for April 3, where the controversy over ValueAct's pension fund management and the board's transparency will be key topics.