The United States Securities and Exchange Commission (SEC) has issued a comment letter to Sean Brownridge, a partner at Schulte Roth & Zabel LLP, regarding soliciting statements made by Mr. Rasulo of Walt Disney Co. The SEC's letter, dated March 6, 2024, requests clarification and support for several claims made by Mr. Rasulo during a CNBC interview on February 27, 2024. The statements in question include Disney being ranked as the second-worst company in the S&P 500 for 'say on pay', criticisms of the Board's responsibilities in capital deployment and shareholder communications, and assertions about Disney's media business performing poorly compared to competitors. The SEC has asked for a reasonable factual basis for these opinions and beliefs, and reminded the filing persons of their responsibility for the accuracy and adequacy of their disclosures.

The United States Securities and Exchange Commission (SEC) has issued a comment letter to Sean Brownridge, a partner at Schulte Roth & Zabel LLP, regarding soliciting statements made by Mr. Rasulo of Walt Disney Co. The SEC's letter, dated March 6, 2024, requests clarification and support for several claims made by Mr. Rasulo during a CNBC interview on February 27, 2024. The statements in question include Disney being ranked as the second-worst company in the S&P 500 for 'say on pay', criticisms of the Board's responsibilities in capital deployment and shareholder communications, and assertions about Disney's media business performing poorly compared to competitors. The SEC has asked for a reasonable factual basis for these opinions and beliefs, and reminded the filing persons of their responsibility for the accuracy and adequacy of their disclosures.