EXPERT ADVISORY
New York, NY (January 30, 2001) -- Walt Disney
Company yesterday announced that it will absorb its Internet tracking stock and
close its 'Go.Com” web portal, resulting in about 400 layoffs and a charge of
about $790 million. New York Law School Professor Jeffrey Haas, author of
Directorial Fiduciary Duties in a Tracking Stock Equity Structure: The Need
for a Duty of Fairness, is available for comment and/or analysis of these
developments.
• What does this mean for Disney
shareholders?
• What does this mean for the future of companies
with
tracking stocks, including AT&T, Bell South, and
DLJ?
• What does this mean for those seeking to issue
tracking
stocks, including Worldcom and Sony?
Professor Haas, who is a member of the ABA's
Committee on the Federal Regulation of Securities, is also the co-author of
Introduction to Tracking Stocks. Professor Haas is considered the leading
legal authority on tracking stocks.
Professor Haas can be reached at his office, (212)
431-2340 or at home, (212) 661-0525. In the alternative, please contact Alta
Levat, New York Law School Public Affairs, at (212) 431-2325, or alevat@nyls.edu.
ABOUT NEW YORK LAW SCHOOL
Founded in 1891, New
York Law School, www.nyls.edu, is one of the
oldest independent law schools in the United States. Located near the centers of
law, government, and finance in Manhattan's TriBeCa district, New York Law
School enrolls 1,400 students in its day and evening divisions.
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