Disney finds itself intertwined in a corruption inquiry in Anaheim

[zinn]

The Walt Disney Company (NYSE:DIS) finds itself in the midst of a
corruption inquiry in Anaheim California where Disneyland Resorts is
located. According to an FBI affidavit, it mentions that the Disney and
executives are entangled in a “cabal” where they have met with local
elected officials to sway public policy decisions.

The Wall Street Journal reported that in the 100-page affidavit, Carrie
Nocella, Disneyland Resort’s head of external affairs aids in the
assemblance of meetings between the two parties. It should be noted that
both DIS and Nocella have not been accused of wrongdoing at this time.

In addition, WSJ reported that a Disney spokesperson stated: “We believe
we have acted fully in accordance with the law and are prepared to
cooperate with authorities if they so request in the course of their
investigation.”

This is Disney’s second time this year to be involved with local politics
as earlier in the year they were connected with Florida’s divisive
education bill.

Walt Disney price action: DIS is +0.2% in premarket trading after the
stock closed up 1.6% on Wednesday. Moreover, DIS is -34.1% year-to-date
and the firm also trades lower over a longer one-year trading period, down
41.4%.

https://seekingalpha.com/news/3843005-disney-finds-itself-intertwined-in-
a-corruption-inquiry-in-anaheim