Disney Resolves Cross-Hiring Lawsuit and 2 Other Dow Movers to Watch
The Walt Disney Co. (NYSE:DIS): Current price $66.066
Some Disney divisions have tentatively resolved a lawsuit claiming they violated United States antitrust law by agreeing with its rivals not to recruit each other’s employees. In an amended complaint filed on Sept. 13, 2011, a group of high-tech employees sued the businesses, alleging that industry arrangements not to pursue cross-hires comprised a conspiracy “to fix and suppress the compensation of their employees.” Now, the animation studio Pixar and the visual-effects specialist Lucasfilm Ltd. told United States District Judge Lucy Koh in San Jose that they have agreed to settle all claims, according to court papers filed on July 12. The plaintiffs’ lawyers said in a letter to Koh, “The parties anticipate completing documentation of the proposed settlement and presenting it for the court’s consideration in the near future.”
Procter & Gamble Co. (NYSE:PG): Current price $81.33
Documents filed on Friday with the Securities and Exchange Commission reveal that P&G’s former Chief Executive Bob McDonald’s compensation package fell by 6 percent to $15.2 million in his final year in that position. The number-one consumer product firm on the planet has been trying to improve results worldwide, as it faces stiff competition. To that effect, former Chief Executive A.G. Lafley returned as head of the company on June 30, which was the end of P&G’s fiscal year, as McDonald retired following a 4-year run as CEO. Lafley had served as chief of the company from 2000 to 2009.
General Electric Co. (NYSE:GE): Current price $23.66
GE, the Clinton Health Matters Initiative, Houston Mayor Annise Parker, and partners announced on Monday an initiative to improve the health and well-being of people who reside in the greater Houston area. The partnership will work to supply better healthcare for more people by promoting community health, closing deficits in health disparities, and encouraging community members to lead healthier lives. The initiative aims to be the biggest coordinated community health improvement effort in Houston’s history, and aims to improve health in the city, while driving measurable results by uniting leaders from across the academic, corporate, governmental, healthcare, and non-profit sectors.