Investment firm sues Disney over scheme to hide streaming losses, NY Post says

A new lawsuit filed by New Jersey-based Stourbridge Investments on August 23, in a Delaware court ,assets that during Bob Chapek’s reign as CEO, Disney racked up “staggering costs” and tried to hide it, Alexandra Steigrad wrote for the NY Post. Investors are claiming that Chapek’ deliberately misled them when he said that “Disney+ has exceeded our wildest expectations” in December of 2020, added the NY Post. The suit cites the “hugely controversial” reorganization, giving strategic decision making to Chapek, noted the story.