Summary by Moomoo AI
On March 22, 2024, the United States Securities and Exchange Commission (SEC) addressed a letter to Daniel Cerqueira, Partner at Cravath, Swaine & Moore LLP, regarding Walt Disney Co's recent filing of Definitive Additional Soliciting Materials on March 21, 2024. The SEC's comment highlighted a need for clarification on Disney's disclosure involving ISS's views on the potential election of Peltz to the Board and Perlmutter's involvement. The SEC noted that the language used in the press release suggested ISS agreed with certain negative characterizations, which was not explicitly stated in ISS's report. The SEC has requested that Disney revise its disclosure to accurately reflect ISS's report and has reminded the company of its responsibility for the accuracy and adequacy of its disclosures. The SEC has also indicated that further comments may follow after reviewing Disney's response to this issue.